JSE subdued as global markets await retaliation from China

The JSE opened slightly higher on Monday morning, with global markets keeping a watchful eye on the escalating US-China trade conflict, after the two economic superpowers failed to reach a trade deal on Friday.

"We are right where we want to be with China. Remember, they broke the deal with us and tried to renegotiate. We will be taking in tens of billions of dollars in tariffs from China. Buyers of product can make it themselves in the US , or buy it from nontariffed countries …” US President Donald Trump tweeted on Sunday.

The all share was up 0.32% to 56,959.7 points at 10.01am. The top 40 rose 0.3% Platinum miners added 0.83%, financial 0.39% and the property index up 0.25% and general retailers 1.21%. Vodacom was up 1.64% to R113.15. The mobile operator said earlier that its annual profit after tax was 0.8% lower for their year ended March, at R15.4bn. Its international business grew earnings before interest, taxes, depreciation, and amortisation by 26.8%.

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