The JSE started the week in an upbeat mood with banks and financials rising on the firmer rand and platinums gaining after losing out last week. A number of market favourites were up in early morning trade, including Vodacom and Astral, despite reporting pedestrian numbers. The stronger rand set the scene, firming to R13.2565/$ from R13.3657/$ in early morning trade on a weaker dollar. The platinum price added 0.48% to $927.53/oz as Brent crude rebounded 2.42% to $52 a barrel. Asian markets were mixed, with the Nikkei 225 down 0.07% and the Hang Seng gaining 0.78%. The Dow closed 0.11% lower on Friday following weaker than expected economic data and earnings. US consumer price index (CPI) data came in marginally below estimates at an annual 2.2% while retails sales also missed, showing a 0.4% gain for April. The local market showed scant attention to the controversial reappointment of Brian Molefe as Eskom CEO ahead of Moody’s expected ratings announcement. "The Eskom-Molefe story i...
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