Trading Economics-


The JSE index was slightly down on Thursday, trading around 82,400, reversing sharp gains in the prior session, mainly due to selling pressure on resource-linked stocks. On the earnings front, ArcelorMittal South Africa posted a loss of ZAR 1.11 billion in the six months to June 30, compared to a loss of ZAR 448 million in the same period last year. Meanwhile, traders welcomed dovish comments from the Federal Reserve at the end of its two-day meeting on Wednesday. US central bank Chair Jerome Powell said decision-makers were increasingly confident inflation and the economy were at a point where they could start loosening monetary policy. Domestically, traders awaited a PMI survey for South Africa's manufacturing sector set to be released today.