JSE lower on global markets

The JSE slumped more than 1% in broad-based losses on Thursday, its worst performance in a month, amid risk-off trade on global markets.

The dollar, seen as a safehaven currency, has gained this week amid concerns about slowing global growth and the uncertainty of China and the US reaching a trade deal.

This put pressure on both domestic banks and retailers, as well as some mining stocks, which usually benefit from a softer dollar.

The all-share fell 1.26% to 53,888 points and the top 40 dropped 1.34%.

General retailers gave up 2.67%, food and drug retailers 2.15% and industrials 1.69%.

Earlier, German industrial production for December came in worse than expected, contracting 0.4% month on month, with the figures weighing on expectations of a tepid recovery in the eurozone, Barclays Research analysts said.

Rand hedge AB InBev gave up 2.02% to R1,045 and Richemont 1.8% to R92.92.

TFG slumped 4.44% to R161.52 and Truworths 5.06% to R75.05.

Sasol gave up 2.87% to R411.51.

ArcelorMittal was up 7.87% to R3.70, having earlier reported revenue growth of 16% in the year to end-December.