The JSE was a little higher on Thursday, looking to end a four-day losing run. The all share was up 0.22% to 57,469.4 points at lunchtime, outperforming world equity markets. The impetus came from rand-sensitive stocks and resources, which played catch-up on improved commodity prices on Wednesday night. The rand was on a much stronger footing against the dollar, boding well for banks and retailers. The rally in the local currency came as the dollar weakened, after the US Federal Reserve signalled that it would increase interest rates gradually. The less hawkish Fed stance, or at least the market’s interpretation thereof, undermined the dollar and in turn boosted precious metal prices overnight when the local market was closed. The gold price was, however, relatively flat at $1,254.73 per ounce in early afternoon trade, having settled about 1% higher on Wednesday night. Overall, sentiment towards the local bourse appeared a lot better than a few days ago, though Steinhoff shares cont...
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