JSE closes firmer in thin trade as Naspers rallies
General retailers gained on the firmer rand, which reached a best level of R12.6293 against the dollar in intraday trade
The JSE closed firmer on Monday ahead of Human Rights Day on Tuesday, as general retailers gained in thin trade, supported by a strong performance from Naspers. Volumes were very low ahead of the public holiday, only reaching R8.6bn at the close from an average daily R24bn. General retailers gained on the firmer rand, which reached a best level of R12.6293 against the dollar in intraday trade before softening prior to the close. Property stocks rebounded from a sharp retraction on Friday. Naspers closed at its highest level in four months, buoyed by trade in its Chinese Tencent investment, of which Naspers owns 34%. Tencent traded at a record high in Hong Kong. Naspers lost 5% last year, but is 13.7% higher in 2017. However, it has fallen 23% from its peak in September. Resources and gold stocks weakened on the firmer rand, despite spot prices picking up in intraday trade. At the JSE’s close platinum was up 0.56% at $969 an ounce and gold rose 0.31% to $1,232 an ounce. Brent crude w...
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