The JSE closed firmer on Monday as the market started the second half of the year on a positive note following a poor June, in which the market recorded its biggest one-month loss in more than 18 months. Resources led the market on a weaker currency and a rebound in global commodity prices, despite a weaker performance from platinum on the day, falling 1.76% to $909.84 an ounce. The iron ore price has rebounded about 20% from its recent low, thanks to firmer data on the Chinese economy, including steel production. Platinum and gold shares ended the day lower, with the spot price of gold shedding 1.42% to $1,223.17 an ounce on the stronger dollar. Apart from resources, general retailers and banks also gained, on renewed hopes of an interest-rate cut later in the year. Industrials were firmer as selected rand hedges performed on the weaker currency. Stanlib retail investment director Paul Hansen said Stanlib economist Kevin Lings had changed his view on interest rates and now expected...
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