By Market Overview Sep 07, 2023 03:09 JD SKG South Africa Market Review South African markets closed in the red yesterday, led by losses in retail and financial sector stocks. Retailers, Cie Financiere Richemont S.A. (JO: ), Mr Price Group (JO: ), Clicks Group (JO: ) and SPAR (JO: ) group dropped 5.2%, 2.9%, 2.1% and 1.8%, respectively. Lenders, Nedbank Group (JO: ), Capitec Bank Holdings (JO: ) and FirstRand (JO: ) declined 3.9%, 2.5% and 1.0%, respectively. Diversified miners, Kumba Iron Ore (JO: ), Exxaro Resources (JO: ) and Anglo American (JO: ) fell 2.4%, 1.9% and 1.5%, respectively. Pharmaceutical companies, Netcare (JO: ) and Aspen Pharmacare (JO: ) eased 1.9% and 0.8%, respectively. On the flipside, food companies, RFG Holdings (JO: ) and RCL Foods (JO: ) advanced 4.2% and 2.5%, respectively. The JSE All Share index declined 0.8% to close at 74,411.00. UK Market Review The UK market finished weaker yesterday, as a drop in domestic construction activity dampened investor sentiment. Retailers, Burberry Group (LON: ), Ocado Group (LON: ) and JD Sports Fashion (LON: ) shed 4.7%, 1.3% and 1.2%, respectively. Insurance companies, Prudential (LON: ) and Legal & General Group (LON: ) declined 2.3% and 1.0%, respectively. Homebuilders, Persimmon (LON: ) and Berkeley Group (LON: ) dropped 1.3% and 0.6%, respectively. Paper and packaging companies, Smurfit Kappa Group (LON: ) and DS Smith (LON: ) each fell 1.1%. Miners, Fresnillo (LON: ) and Glencore (JO: ) eased 1.0% and 0.6%, respectively. On the other hand, energy companies, BP (LON: ) and Shell (LON: ) added 0.9% and 0.8%, respectively. The index declined 0.2% to close at 7,426.14. US Market Review US markets ended lower yesterday, following a surge in Treasury yields and renewed fears over further interest rate hike. Aerospace company, Lockheed Martin Corporation (NYSE: ) edged down 4.8%, after the company cut its F-35 jets delivery outlook. Technology company, Apple (NASDAQ: ) declined 3.6%, amid reports that China has banned
Source - Investing
7 Sep 2023