Cautious trade sees slight dip

THE JSE was softer in thin volumes yesterday‚ with a weaker rand giving the local bourse much of its direction.

Daily turnover was R10.8 billion compared to the daily average of about R24 billion.

The rand was weaker than the psychologically important R13/$ level‚ with markets seemingly brushing off the fallout from the G7 summit at the weekend‚ when US President Donald Trump left early. Banks were lower, as were smalland medium-cap companies, which are often dependent on economic conditions in SA.

Rand hedges were buoyant‚ however‚ as was market heavyweight Naspers.

The all-share fell 0.13% to 58 146.1 points and the top-40 was down 0.09%. Platinums fell 0.92% and banks 0.76%.

At 3pm the rand was at R13.11/$ from R13.10/$‚ R15.47/à from R15.42/à and R17.541/£ from R17.544/£.