The JSE closed weaker on Thursday as a result of platinum and gold stocks, while industrials pulled back in late trade owing to the firmer rand. The rand hit an 18-month best level against the dollar, firming to R12.4809 against the dollar in intraday trade. Trade on the JSE was mostly subdued as flat commodity prices gave little direction to the market. Banking shares did come back toward the close on the firmer rand. The gold price was flat at $1,248 an ounce at the close while platinum gained 0.27% to $964 an ounce. Brent crude dropped 0.57% to $50.42 a barrel. Analysts’ predictions that the Reserve Bank could loosen monetary policy later in the year had limited effect on the market, despite the positive economic data released on Wednesday. Volumes were on the low side, with trade at the JSE’s close amounting to R11.9bn. "The narrowing of the current-account deficit and fall in core inflation reinforced our view that the Reserve Bank would loosen monetary policy this year to supp...
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