South African futures were firmer on Wednesday after the Dow opened 0.67% up at the JSE’s close. Local market sentiment remained cautious following the ANC national working committee’s (NWC) decision to close ranks behind President Jacob Zuma, despite the SACP and Cosatu’s call for him to step down. The all share closed 0.63% higher at 52,990.10 and the blue-chip top 40 added 0.88%. Platinums firmed 4.5%, resources rose 3.41%, and the gold index added 3.03%. Industrials added 0.50%. Banks closed 2.38% lower, general retailers lost 2.02%, and financials dropped 1.78%. Rand hedges were firm favourites, with British American Tobacco jumping 3.41%. Anheuser-Busch InBev added 2.52% to R1,529.51. The rand was at R13.7656 against the dollar in early evening trade from R13.6015. At 5.48pm, the local near-dated top-40 Alsi futures index was 0.85% higher at 46‚720 points. The number of contracts traded was 25,809 from Tuesday’s 28,689.
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