The JSE started the week tracking positive global markets, with banking shares faring best on the local exchange. All eyes now fall on the Reserve Bank, which is due to pronounce on local interest rates on Thursday. FirstRand and Standard Bank led the charge in the banking sector, following their release recently of relatively upbeat interim results, while strong annual results from Discovery on Monday buoyed the financial index. Industrials were supported by Naspers, while gold stocks lost out on a lower metal price, despite a weaker dollar, while diversified miners recovered on a weaker rand. Brent crude softened 0.90% to $54.98 a barrel. Based on the latest Reuters consensus poll, 18 of 26 local forecasters expect the Reserve Bank to cut rates on Thursday, while the others believe they will be kept on hold. The Dow was 0.32% up at the JSE’s close, with the likelihood that the US Federal Reserve will keep rates unchanged on Wednesday, and initiate an unwinding of its balance sheet...
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