The JSE closed lower on Thursday, with banks posting the only significant positive performance. The rand was weaker, while volumes on the JSE were high at R37.7bn compared to the usual daily average of R20bn. Thursday marked the futures close-out on the JSE for the first quarter. Some miners were lifted slightly by positive data and a weaker rand, with banks and retailers also cheered slightly by domestic news. Locally, focus is on an expected ratings announcement by Moody’s next week, which comes ahead of a South African Reserve Bank monetary policy decision later in March. Earlier, BMI Research — a division of ratings agency Fitch — said while the election of President Cyril Ramaphosa had boosted investor sentiment, internal ANC divisions could slow efforts to fight corruption or press through economic policy reform. The all share fell 0.38% to 58‚203.8 points and the top 40 0.34%. Platinums lost 1.06%‚ industrials 0.88%, and gold miners 0.87%. Banks firmed 0.78%. Diversified mine...
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