The JSE closed weaker in subdued trade on Thursday as platinum and gold stocks came under pressure owing to a stronger rand and volatile commodity prices. Industrials also pulled back in late trade because of the stronger rand. The rand hit an 18-month best level against the dollar, firming to R12.4809 against the dollar in intra-day trade. 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. Volumes were on the low side, with trade at the JSE’s close amounting to R11.9bn. Analyst predictions that the Reserve Bank might loosen monetary policy later in the year had limited effect on the market, despite the positive economic data released on Wednesday. "The narrowing of the current-account deficit and fall in core inflation reinforces our view that the Reserve Bank will loosen monetary policy this year to support the weak economy," said Capital Economics analyst William Jackson. Capital Econ...
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