The JSE traded lower on Monday, closing 0.47% down while global peers were mixed with international investors in a cautious mood ahead of the US Fed’s two-day policy meeting.
The meeting could indicate that the central bank is preparing for faster tightening with signs of a global slowdown mounting.
The All Share Index is at 67,750 points.
In company news, Anglo American Platinum (2.18%) reported a 43% fall in half-year profit due to the weaker platinum group metal prices and lower volumes compared with the same period a year ago.
Headline earnings per share dropped to R101.40 from R176.47 a year ago.
Chief executive officer Natascha Viljoen said inflationary pressures and tightening monetary policy continues to have an impact on the mining industry.
In a trading update for the 13 weeks to end July 2, retailer Mr Price (-0.02%) said retail sales had increased by 6% to R6.6 billion.
The retailer said that non-payment of the R350 social relief of distress grant for the past two months affected the disposable income of households.
Retail peers Truworths and The Foschini Group both lost 2% and 0.04% respectively while Woolworths bucked the trend and added 0.63%.
On the commodity front, precious metals have closed in the red today and as the calls for a recession become louder, the more evident the selloff in commodities will be.
Brent crude is currently trading 0.69% up for the day at $104.99 a barrel.
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