The JSE was weaker on Wednesday morning, with its global peers mixed as investors eye the Jackson Hole symposium in the US for any details on monetary policy changes.
Central bankers are set to gather for the Jackson Hole symposium to discuss big questions, and investors’ focus will be on whether or not central bankers will detail their plans for tapering monetary stimulus. The US Federal Reserve has started discussions to pull back its $120bn a month bond-buying programme by the end of 2021.
“Markets are mixed this morning as traders sit on their hands ahead of Jackson Hole,” said TreasuryOne currency strategist Andre Cilliers.
At 9.50am, the JSE all share had lost 0.15% to 67,352.35 points and the top 40 was down 0.15%. Financials had gained 0.32% and banks 0.29%. Precious metals had lost 1.11%, resources 0.26% and industrials 0.17%.
At the same time in Europe, the FTSE 100 had gained 0.25%, France’s CAC 40 0.21% and Germany’s DAX 0.04%.
Earlier, the Shanghai Composite added 0.74%, while Hong Kong’s Hang Seng lost 0.22% and Japan’s Nikkei 225 0.03%.
At 10.01am, the rand had strengthened 0.24% to R14.9449/$, 0.42% to R17.5364/€ and 0.25% to R20.5005/£. The euro was 0.18% weaker at $1.1734.
Gold had lost 0.40% to $1,794.96/oz and platinum 0.95% to $1,001.86. Brent crude was 0.60% weaker at $70.71 a barrel.
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