The JSE all share closed flat on Monday in low-volume trade, failing to hold on to earlier gains amid cautious market sentiment ahead of Wednesday’s medium-term budget policy statement. Finance Minister Malusi Gigaba is expected to reveal a disappointing budget with the deficit close to 4% of GDP as opposed to the 3.1% target projected in February’s main budget. The weaker rand failed to boost industrials on the day but miners found some support despite softer commodity prices. Market heavyweight Naspers ended the day lower. The all share closed 0.09% higher at 57,999.60 points and the blue-chip top 40 added 0.13%. Resources climbed 0.79% and general retailers 0.09%. Food and drug retailers shed 0.61%, property 0.17% and industrials 0.07%. After making good gains earlier in the day banks closed flat. Anglo American was the star performer among diversified miners, closing 2.34% higher at R261.83. Rand hedge British American Tobacco rose 0.53% to R883.64, while Naspers lost 0.71% to R...
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