Futures track local and world markets weaker
by Staff Writer
2016-08-19 18:06:15.0
SOUTH African futures tracked the JSE and global markets weaker on Friday as investors began to price in a greater likelihood of a US interest-rate increase this year, possibly as early as September.
This follows comments from two US Federal Reserve officials on Thursday night that were more hawkish than the sentiment indicated in the Federal open market committee (FOMC) minutes for July, released earlier in the week.
The JSE all share closed 0.41% lower at 52,772 points and the blue-chip top 40 dropped 0.41%. Platinums retreated 2.21%, food and drug retailers dropped 1.67% and general retailers were 1.07% lower. Banks were down 0.89% and resources shed 0.71%.
The all share ended the week down a marginal 0.07%. It is up 4.1% for the year.
At 5.35pm the Dow Jones industrial index was down 0.16% at 18,568 points, while the local near-dated top-40 Alsi futures index was 0.38% weaker at 45,961 points, with 23,278 contracts traded from 29,796 on Thursday.
Picture: REUTERS
SOUTH African futures tracked the JSE and global markets weaker on Friday as investors began to price in a greater likelihood of a US interest-rate increase this year, possibly as early as September.
This follows comments from two US Federal Reserve officials on Thursday night that were more hawkish than the sentiment indicated in the Federal open market committee (FOMC) minutes for July, released earlier in the week.
The JSE all share closed 0.41% lower at 52,772 points and the blue-chip top 40 dropped 0.41%. Platinums retreated 2.21%, food and drug retailers dropped 1.67% and general retailers were 1.07% lower. Banks were down 0.89% and resources shed 0.71%.
The all share ended the week down a marginal 0.07%. It is up 4.1% for the year.
At 5.35pm the Dow Jones industrial index was down 0.16% at 18,568 points, while the local near-dated top-40 Alsi futures index was 0.38% weaker at 45,961 points, with 23,278 contracts traded from 29,796 on Thursday.
