JSE all share gains on miners as banks, financials remain under pressure
The JSE closed firmer on Wednesday as miners led the gainers on the weaker rand, with banks, general retailers and financials ending the day down.Sentiment toward shares with a local bias, such as banks, general retailers and property, was negative following the ANC national working committee’s decision to support President Jacob Zuma’s Cabinet reshuffle.This was despite widespread calls for his resignation after he dismissed Pravin Gordhan as finance minister in a Cabinet reshuffle last week.The public disagreement by ANC officials about the Cabinet reshuffle was a mistake and would not happen again, party secretary-general Gwede Mantashe said on Wednesday. Mantashe, Deputy President Cyril Ramaphosa and ANC treasurer-general Zweli Mkhize publicly voiced their disapproval over the lack of consultation on the reshuffle last week.Sentiment was further clouded after the Treasury confirmed that director-general Lungisa Fuzile was set to leave the department.Spot gold was 0.66% lower at ...
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