The JSE closed firmer on Wednesday as gold shares rose on a slightly weaker rand while resources extended gains for a third consecutive day. The gold price was steady at $1,248 an ounce for most of the day, while Brent crude dropped 0.92% to $50.38 a barrel after surging overnight. Industrials were higher on yet another record close from Naspers. Some analysts have expressed concern about present high market valuations, with the all share only 500 points from its previous record high of 55,355.10 points, reached in April 2015. The all share is up 8.26% so far in 2017. The dollar was slightly firmer against the euro on Wednesday but lost some ground against the pound as weak UK GDP data raised the spectre of interest-rate increases. Foreign currency moves had became the focus for investors, said Old Mutual equities boutique head Peter Linley, who said European stock markets had been under some pressure on the belief that the European Central Bank was not particularly fazed by the eur...
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