A strong performance from retailers on Wednesday was not enough for the JSE to close in positive territory as resources and industrials dragged the all share down. The rand gained more than 1% after retail sales data for April surprised on the upside. Annual retail sales growth accelerated to 1.5% in April, higher than the market’s forecast of 0.6%, from 0.9% in March. This caused a rebound in retailer shares with the food and drug retailer index gaining 1.47% and general retailers 0.90%. Among the star performers were TFG adding 2.32% to R144.23, Mr Price 0.84% to R163, and Shoprite 3.12% to R204.17. The all share ended the day 0.26% lower at 51,489.20 points. Resources shed 1.33% and industrials 0.18%. Banks and financials were marginally higher. Lower oil prices pulled other commodities down. Anglo American ended the day down 2.85% at R171.17 and BHP lost 2.15% to R191.04. Brent was 3% lower at $46.82 a barrel, its lowest level since November last year. Gold Fields was up 1.58% t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.