Bourse shrugs off fears to rise

The JSE closed higher on Wednesday despite risk aversion on global markets from fears over the intensifying US-China trade war.

Local diversified miners were under pressure as the oil price fell, but most indices on the JSE registered strong gains. The all-share rose 1.04% to 54,997.3 points, and the top-40 1.11%. Banks added 2.8% and financials 1.8%. The resources index gave back 0.98%. Naspers led the way with a 4.07% climb to R3,221.30.

The rand closed 0.24% weaker at R14.77/$, having earlier reached a sevenmonth low, extending Tuesday’s 2.11% slide.

Gold was 0.21% higher at $1,282.23/oz but platinum fell 0.79% to $793.03.

Brent crude was 1.6% lower at $68.98 a barrel.