The JSE closed firmer on Monday on broad-based gains, as sentiment improved following a strong performance by mining stocks. Mining stocks rebounded from a torrid performance last week, which resulted in the resources 10 index losing 5.5%. Platinums dropped 10% and the gold index shed 6.7% over the period. Volumes were low, with R9.7bn traded by the close compared to a daily average of R24bn in 2016. After a firm start industrials rebounded further in intraday trade on a softer rand, with retailers, banks and property cashing in on a lagging market. "2016 wasn’t a great year for investors and the question was if this year’s outlook was better," Old Mutual Multi-Manager chief investment strategist Dave Mohr commented. The all share ended 2016 flat while the Dow Jones industrial average jumped 13.42%. Mohr said the all share was hovering below 52,000 points, a level first hit in July 2014. "In other words, investors have basically just earned dividends, with no appreciation at an inde...
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