MARKET WRAP: JSE closes higher led by some retailers, as global markets rebound
The JSE closed higher on Thursday, tracking firmer international markets, which recovered from a recent slide that included a three-week low for the Dow. Gains by individual shares also helped lift the local bourse, particularly food and drug retailers. Spar gained 5.57% R178.63, while Steinhoff, which ended a six-session losing streak, added 2.65% to R53.55. Both local and global energy and mining stocks have recently come under pressure following weak data out of China, but many analysts view the recent slide as profit-taking. The all share closed 0.62% higher to 59‚549.20 points and the blue-chip top 40 added 0.71%. Food and drug retailers rose 1.96%‚ property 1.03%‚ industrials 0.99%‚ banks 0.49%, and general retailers 0.48%. The gold index shed 1.48% and platinums 0.15%. Naspers ended the day 1.41% higher at a record R3‚713 and Anheuser-Busch InBev gained 0.23% to R1‚638.94. Reinet lost 1.78% to R30.30. It said earlier that net asset value at the end of September amounted to €5...
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