MARKET WRAP: JSE slips 1%, tracking weaker global markets

The JSE slipped on Wednesday, snapping a three-day winning streak, as the trade war between the US and China weighed on global markets.

The all share gave back 1.24% to 56,145.7 points and the top 40 lost 1.28%. General retailers lost 2.61%, banks 1.75% and industrials 1.37%. The platinum index added 1.46%. Platinum miners continue to benefit from a rising palladium price, which has been hit by supply concerns due to reports Russia is considering export restrictions on some sources of the metal.

Retail sales data was slightly better than expected, growing 1.2% year on year in January compared to market expectations of 1.1% growth. Retail sales had registered a shock 1.4% fall in December, while the market had expected growth of 2.7%.

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