JSE ends consistently firmer week led by retailers, while resources rebound
The JSE closed firmer on Friday, ending a week of gains, as retailers and banks were buoyed by the firmer rand and resources rebounded after the government backtracked on the implementation of the controversial 2017 Mining Charter. The all share closed higher on all five days of the week, for the first time since the week ended April 28, as a stronger rand supported interest-rate sensitive sectors such as banks and retailers, while losses among miners were capped by firmer commodity prices. Industrials were buoyed by Naspers, with rand hedges suffering an indifferent week. The government’s backtracking on the Mining Charter was confirmed by a statement from the Chamber of Mines, saying that Mineral Resources Minister Mosebenzi Zwane had given a written undertaking not to implement or apply the provisions of the 2017 reviewed Mining Charter, pending judgment in the urgent interdict application brought by the chamber. "The minister has furthermore undertaken that, in the event of any ...
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