JSE opens down on weaker resources as market eyes secret ballot decision
The JSE opened weaker on Thursday as resources retreated on a lower oil price, while risk-off sentiment affected food and drug retailers, banks and financials negatively. Brent oil was 0.13% weaker at $44.71 barrel at the opening as markets remain sceptical about the ability of oil cartel Opec members to limit production further. US markets closed lower on Wednesday, with the Dow losing 0.27% to 21,410.03 on weaker energy companies. Asian markets ended slightly weaker with the Nikkei 225 losing 0.14% and the Shanghai composite off 0.28%. The market was eyeing the judgment expected from the Constitutional Court in the secret ballot case in Parliament later in the morning. The court would probably declare that a secret ballot is permissible but not compulsory for the vote of no confidence in President Jacob Zuma, TreasuryOne analysts said. "If this ruling is the case, all speculation for an early exit of the president will be put to rest," they said. The rand and the JSE firmed on pas...
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