The JSE closed weaker in listless trade on Wednesday as gold and platinum were the only major indices in positive territory, while industrials and resources pulled the market down. Gold and platinum stocks benefited from firmer commodity prices. The gold price had added 0.78% to $1,243 an ounce by the JSE’s close, as the dollar failed to make headway on the day. Platinum jumped 1.58% to $1,017. Industrials were dragged down by Naspers, Steinhoff and MTN, while rand hedges found some support from the weaker local currency. Standard Bank trader Warrick Butler said: "I think the market is still in a state of flux, torn between wanting to earn great returns via high-yielding assets but concerned that one of the many things teetering on a knife edge might give way." Butler said there were many things for the market to get worried about. "These include President Jacob Zuma’s address on Thursday evening, Trump mania, Brexit and the French elections." Concern about China kept emerging marke...
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