The JSE was fractionally weaker on Thursday, ending a nine-day winning run, albeit by a narrow margin. Volumes on the local bourse were lower than average and the rand was volatile, with gains in retailers and banks countered by losses in rand hedges and miners. The all share fell 0.04% to 57,747.3 points and the top 40 0.17%. General retailers added 1.36%, food and drug retailers 1.05%, banks 0.94% and financials 0.8%. Platinums dropped 1.46%, gold miners 1.16% and resources 0.73%. Markets were digesting the US’s federal open market committee’s minutes, released on Wednesday, which were perceived as mildly dovish. Analysts said an interest-rate increase in the US could still be expected in December, but the minutes indicated serious concerns about the outlook for inflation, and thus further increases in 2018. Fed chairperson Janet Yellen has described the lack of rising inflation as something of a "mystery", said FXTM chief market strategist Hussein Sayed. When an institution that ...
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