Positive global sentiment and weaker dollar push JSE to firmer close
All the main indices closed higher
The JSE closed firmer on Tuesday as a weaker dollar boosted higher commodity prices and mining and resources stocks. The bourse was higher after firmer Asian markets resulted in increased positive global sentiment, which drove up the demand for riskier assets. The dollar retreated after recent weak US economic data. Mixed messages from US Federal Reserve officials about the timing of a US interest-rate increase caused investor confusion. The softer dollar also pushed the rand well below the psychological R14 barrier, touching a firmest intraday level of R13.9337. The all share index closed 0.70% higher at 51,126.80 points, with the top 40 adding 0.66%.%. All the main indices closed higher with the gold index rallying the most, ending the day 2.3% higher as the gold price rose. Gold was 0.42% higher at $1,260.42/oz at the JSE’s close. General retailers closed 2.58% higher, supported by a firmer rand. The CEO of MyWealth Investments, Devin Schutte, said retailers in particular had out...
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