Bourse shrugs off dismal data

THE JSE brushed off dismal local data yesterday‚ with Naspers leading the gains followed by banks and financials‚ while retailers slipped 1.6%.

Retailers were under pressure after data for that sector came in well below expectations‚ although banks gained on a firmer rand.

Retail sales growth reached just 0.5% in April compared to the same period in 2017‚ well below the 4% expected by economists.

The all-share gained 0.39% to

58 437.2 points and the top-40 0.56%.

Banks added 1.2% and financials 0.68%. Platinums fell 1.48% and general retailers 1.61%.

Gold gained 0.11% to $1 296.78/oz and platinum 0.1% to $901/oz. Brent crude was 1.28% higher at $76.45 a barrel.

At 3pm‚ the rand was at R13.23/$ from R13.32/$‚ R15.59/à from R15.64/à‚ and R17.67/£ from R17.81/£. —