MARKETS WRAP: JSE ends slightly higher as weaker rand boosts industrials
THE JSE closed slightly firmer on Friday as a weaker rand gave industrials a slight boost.The softer currency contributed to generally higher rand hedges with commodities flat following a slight increase in the oil price.At the JSE’s close the rand had lost 0.50% on the day to $13.7144/$.After the significant anticipation regarding the various central bank meetings this week, markets appeared somewhat fatigued, analysts at Nedbank Corporate and Investment Banking (CIB) said.The US Federal Reserve, as well as the Reserve Bank, kept rates unchanged during the week, with the Reserve Bank intimating the rate-tightening cycle may be coming to an end soon.The Fed indicated one more hike this year was possible, but rates were likely to remain low for a longer period, thereby boosting risk-on trade.The JSE all share closed 0.20% higher at 51,999.50 points and the blue-chip top 40 gained 0.29%. After a late surge banks gained 0.43%. Industrials rose 0.27% and resources firmed 0.21%. General ...
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