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The JSE closed down on Thursday, declining other global markets while the stock sell-off deepened after the US Fed raised rates.
The markets have been frightened by the comments of the Fed president for the dissolution of the quantitative easing since the end of the financial crisis in 2009. With the ECB effectively closing its version of quantitative easing, this could be the end of what is It was considered cheap money in the global economy.
The decline in US Treasury yields has further inflated investor concerns about the likelihood of a recession if the yield curve reverses. At the local level, the JSE continues to dance on the notes of the main global financial markets, since the sentiment remains mostly bearish.
In today's session, Murray and Roberts [JSE:MUR] it was subjected to strong pressure as it decreased by 17.16% to close at R12.26. The miners withdrew after the mild Wednesday meeting with actions like Lonmin [JSE:LON] 9.28% drop to close at R7.92, while Sibanye-Stillwater [JSE:SGL] lost 3.81% to close at R9.60.
The Blue Label Telecoms slipped by 4.12% to close at R4.89, while the sector was equal to Vodacom [JSE:VOD] weakened by 2.37% to R127.52. Foods RCL [JSE:RCL] he also struggled because he lost 1.37% to R14.40. On the retail front, Shoprite [JSE:SHP] closed at R180.65 after losing 3.1%.
Retail sales win big
A limited number of blue-chip stocks managed to record significant gains throughout the day. Retailers were some of the biggest gains of the day. Truworths [JSE:TRU] managed to sign 3.18%, closing at R87.00, while Massmart [JSE:MSM[JSE:MSM[JSE:MSM[JSE:MSM]earned 3% at R103.00.
The Foschini group [JSE:TFG] it was also lively thanks to the 3.78% increase at R166.05 and the price [JSE:MRP] added 2.49% to close at R242.89.
Rand hedge, British American Tobacco [JSE:BTI] he had a truce as he approached 0.87% at R464.50, while Sappi [JSE:SAP[JSE:SAP[JSE:SAP[JSE:SAP]closed at R78.54 after adding 2.21%. The JSE All-Share index closed the day down 0.43%, while the JSE's Top-40 index weakened by 0.4%. The financial index managed to close down, however the industrials and resources indices weakened by 0.41% and 0.72% respectively.
After weakening significantly overnight, the rand recovered in today's session as the US dollar eased. The rand peaked at a high R14.17 / $ session before returning to trade at R14.21 / $ at 17.00 CAT.
Brent crude prices continue to slide and in today's session the liquid fell to a session low of $ 64.64 / barrel. The commodity rebounded to trade 2.8% less at $ 55.64 / barrel immediately following the close of the JSE. At 5.00 pm CAT.
Gold rose 1.33% to $ 1259.61 / Oz, the 1.25% Platinum to $ 796.11 / Oz and the Palladium earned 1 , 17% to $ 1272.07 / Oz. Oil gained 7.2% to $ 4189.60 / token while the Ethereum was 6.06% higher at $ 113.15 / currency.
