The JSE closed firmer on Wednesday as a weaker rand provided a fillip for miners and resources, but exerted further pressure on banks, general retailers and financials. 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 last week. ANC secretary-general Gwede Mantashe said on Wednesday that public disagreement by ANC officials about the reshuffle was a mistake and would not happen again. Sentiment was further clouded after National Treasury confirmed that director-general Lungisa Fuzile was set to leave the department. The all share closed 0.63% higher at 52,990.10 points 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 close...
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