MARKET WRAP: JSE marginally higher in low-volume trade, following volatile week
The JSE closed higher on Friday, tracking gains on major global markets.Local miners seesawed during the week but closed higher on Friday. After a choppy session, the rand was weaker later in the day, with general retailers holding onto their gains — retailers generally find support from a stronger rand.Volumes were low, at R13bn, compared with the usual daily average of R20bn, but the local bourse posted its best weekly performance in five weeks.The Dow opened strongly as corporate earnings season in the US kicked off with better-than-expected results from three major banks, but turned lower by the JSE’s close.Naspers fell 2.44% to R2,995. Earlier, Tencent was lower in Hong Kong trade, with Naspers under further pressure from news that it may sell its 16.6% stake in Indian e-commerce player Flipkart.The all share closed 0.15% higher at 56,563.20 points and the top 40 gained 0.15%. The gold index rose 2.7%, resources 2.16%, the platinum index 1.16% and general retailers 0.87%. Banks...
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