Escalating Middle East tensions, hawkish Fed drives emerging markets lower

Siphelele Dludla

Stocks on the JSE fell for the fourth day in a row on Friday, following an emerging markets retreat due to global risk-off sentiment, Middle East tensions and interest rate uncertainty. The JSE All Share Index ended Friday 1.1% lower to 70 198 points, its lowest level in 11 months since November 9, in line with major global peers Among individual stocks, the worst performer was Lighthouse Properties which fell 6.5%, followed by Sun International at 5.5%, Anglo American at 4.3%, and Bytes which eased by 4.1%. However, shares of food producer and consumer goods company Tiger Brands surged by more than 11% after it said CEO Noel Doyle would step down and would be replaced by Tjaart Kruger from November. For the week, the JSE lost about 3.7%,…

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Cape Times (Digital) - 1 Issue, 2023-10-23

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