JSE slips ahead of data-heavy week
The JSE fell in broad-based losses on Monday as markets wait for a series of risk events this week.
The rand was a little firmer. Amid a spate of economic news, the US Federal Reserve and the Bank of England are both set to make policy announcements.
US nonfarm payroll numbers are due on Friday.
Market activity may also be subdued by the closure of the JSE on Wednesday for Workers’ Day, while Japanese markets are closed all week for the Golden Week holiday.
Thinned-out trading activity holds the potential to influence trading behaviour in the rand.
As South Africa heads to the polls next week and the week is data heavy, there was no question that investors would be cautious, Mercato Financial Services analyst Nico du Plessis said.
Sentiment was dented a little earlier by poor eurozone data, with a gauge of business sentiment showing that confidence fell to a 2½ year low in April.
The all share gave up 0.39% to 58,662.7 points and the top 40 fell 0.35%.
Banks rose 0.52%. Platinum stocks fell 4.83% and gold miners 3.46%.
In the week ahead, balance of trade figures are due on Tuesday, while the Absa purchasing managers’ index is due on Thursday.
Sasol fell 0.69% to R476.42. Standard Bank gained 1.28% to R199.40.
Shoprite gained 1.04% to R177.65.
MTN fell 0.59% to R103.39 despite saying its division in Ghana grew 21.9% year on year to end-March.
Naspers fell 0.2% to R3,685.43.