Rand firms slightly on cabinet reveal

The JSE closed higher on Thursday, led by banks and retailers, as global equities found buyers after their recent sell-off.

However, concern about the the US-China trade war remains.

The rand has firmed slightly since President Cyril Ramaphosa announced his new cabinet on Wednesday night.

As the JSE closed, the rand was 0.25% weaker at R14.69/$, but has still firmed about 5c since the cabinet was revealed.

The all-share gained 1.28% to 55,700.6 points and the top-40 1.35%.

Banks rose 3.2%, gold miners 2.65% and financials 2.59%.

Gold was up 0.38% to $1,284.59/oz and platinum 0.14% to $794.81. Brent crude had slipped 1.84% to $68.63 a barrel.