The JSE gained on Tuesday as locally focused company shares rose against the backdrop of continued positive sentiment in global equity markets The rand boosted banks, financials, property and general retailers after hitting a two-and-a-half-year high against the dollar, ahead of the Reserve Bank meeting on interest rates later in the week. A firmer currency holds the promise of an interest-rate cut, which will support consumer spending and so benefit these sectors. Miners were down on the firmer rand, with expectations of further gains by the local currency. Data released on the day indicated that production in the mining sector accelerated to 6.5% in November from 5.2% in October, with platinum group metals the biggest driver. Retailers were supported by Shoprite, which rebounded after initially falling, on a subdued operating update. Shoprite said it increased turnover 6.3% for the six months to December 2017, in contrast with the flat results from Woolworths on Monday, with the l...
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