Retailers ride on upbeat data

THE JSE closed weaker yesterday in choppy trade as a firmer rand dragged resources stocks lower while retailers gained on betterthan-expected retail sales data.

Banks and financials rose on the rand but industrials softened.

Platinum had jumped nearly 2% to $944 an ounce by the JSE’s close with gold 0.85% higher at $1 276.89 on the weaker dollar.

The all-share closed 0.26% lower at 51 489.20 points and the blue-chip top40 dropped 0.40%. General retailers climbed 0.90%.

The gold index rose 1%‚ platinums 0.81%‚ banks 0.38%‚ and financials 0.37%. Resources lost 1.33%.

At 3.30pm‚ the rand was at R12.61/$ from Tuesday’s R12.75/$‚ at R14.22/ from R14.29/ and R16.14/£ from R16.26/£. — TMG