Bourse continues upward trend

THE JSE closed firmer yesterday‚ supporting positive sentiment toward rand hedges despite the local currency weakening slightly from the onemonth highs it reached on Monday.

Gold shares‚ platinums and general retailers were weaker.

The all-share closed 0.63% higher at 53 257.40 points and the blue-chip top40 added 0.73%. Industrials lifted 1.09% and food and drug retailers rose 0.65%.

Financials were up 0.32%‚ property 0.23% and banks 0.22%. The gold index dropped 2.84%‚ general retailers 0.98% and platinums 0.83%.

At 3.40pm the rand was at R13.08/$ from Monday’s R13.01/$. It was at R14.24/ R14.14/ at R16.77/£ from R16.65/£.

The only real market driver this week is set to be US President Donald Trump’s expected announcement on tax reform today. — TMG