South African Stocks Down for 2nd Day
4/3/2024 12:38:49 PM
Trading economics-

The JSE All Share index was slightly down on Wednesday, trading below the 74,100 level, extending losses for the second session. Investors across global markets turned more cautious ahead of a flurry of speeches by Fed policymakers, including Chair Jerome Powell. Traders continued to evaluate the possibility of fewer interest rate cuts this year in light of the sticky inflation data from last week, along with robust economic indicators. On the corporate front, Life Healthcare Group experienced a sharp decline of over 35%, leading the stock market losses, following the release of results for the half-year ended September 30, 2023, and the confirmation of CEO Megandra Naidoo's resignation. Sanlam, African Rainbow Minerals, Karoo and Kumba Iron ore were also among the worst performers, with losses ranging from 4.3% to 6.2%. On the positive side, Richemont and MC Group posted the biggest gains, adding 1.7% and 1.2%, respectively.