The JSE closed weaker on Friday in thin trade as global risk-off trade dominated sentiment amid doubts if President Donald Trump’s crucial healthcare bill would be passed. Markets are on edge as the bill is the first of a number of economic plans unveiled by Trump, including tax reform and fiscal stimulus, which have been keeping US markets at elevated levels. The firmer rand hampered further appreciation among rand hedges and mining stocks, with platinum stocks leading the losses in the mining sector. The rand hit a 20-month best level of R12.40 against the dollar in late afternoon trade. Next week’s market focus will be on Thursday’s monetary policy committee (MPC) announcement in which it is widely expected that the Reserve Bank will leave rates on hold. Despite growth essentially stalling in 2016, the Bank has not given any indication of a chance of lower interest rates, Investec chief economist Annabel Bishop said. "Instead, higher interest rates have been experienced on inflat...
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