The JSE closed firmer on Tuesday, bouncing above the 54,000-point level again, as the local market went against weaker global equity markets with retailers and industrials firm favourites. Company-specific news supported the JSE as analysts continued to weigh the effect the ANC’s failure to recall President Jacob Zuma would have on markets and the economy. Retailers were firmer following strong results from Mr Price. Despite reporting its first annual drop in headline profit in 16 years, Mr Price’s share price climbed after raising its dividend. Platinum and gold stocks closed weaker as spot prices softened amid a weaker rand, while troubled Lonmin lost another 5% over debt concerns. Resources climbed despite commodities performing unevenly with aluminium and copper up and zinc and tin prices falling. Spot gold was 0.36% lower at $1,261.79 an ounce and platinum dropped 1.29% to $941.82 an ounce. Industrials gained from the weaker rand. SA’s economy was fragile in the first quarter b...
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