The JSE resumed its recent rally on Wednesday, lifted by broad gains in global equities and on positive local data. According to Statistics SA, retail trade sales increased 1.7% in May from a year earlier‚ surprising some economists who had predicted a contraction. Consumer inflation moderated to 5.1% in June from 5.4% in May, below a consensus forecast of 5.2%. Analysts said the inflation data was unlikely to sway the Reserve Bank’s interest-rate decision on Thursday. The all share closed 1.56% higher at 54,091.10 points and the blue-chip top 40 was up 1.75%. Banks gained 2.35%, industrials 1.68%, financials 1.46%, food and drug retailers 1.82% ,and general retailers 1.63%. Gold miners were off 0.44%. Rand-hedge British American Tobacco gained 1.33% to R895 and Richemont 1.04% to R108.70. Naspers gained 3.12% to R2,779, lifted by gains in Hong Kong-based Tencent, in which it has a sizable share. Imperial Holdings led gains in the industrial index, adding 4.07% to R174.79. Diversifi...
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