The JSE was weaker on Wednesday as some recent high-flying stocks took a breather after a strong run over the past few weeks.The rand was also stronger against major currencies, boding ill for some heavyweight industrial and diversified resources stocks.Retailers and other shares sensitive to interest rates received decent support, after consumer inflation moderated, implying the probability of an interest-rate increase is unlikely any time soon.Headline inflation grew at an annual rate of 4.8% in October, slowing from 5.1% in September, in line with forecasts.The all share was off 0.60% to 60,845.50 points at lunchtime, dragged lower, in the main, by the industrial index. Gold and platinum stocks, however, pushed higher, despite the stronger rand and relatively muted metal prices.Bargain-hunting was also apparent in some stocks that had been sold off recently, notably in the broader food sectors. In this regard, Tiger Brands was back over R400 for the first time in just more than t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.