The JSE closed firmer on Monday as a steady rand supported banks and retailers, while miners lost ground as the oil price weakened. The rand threatened to weaken through R12.10 to the dollar, before recovering on a firmer euro. The stronger currency had a positive effect on local banking and retail shares, with a strong opening on the Dow encouraging risk-on trade. At the JSE’s close the Dow was 0.75% higher, as company earnings beat expectations. European markets were generally softer. Rand hedges were mixed with Naspers regaining some ground to trade above R3,000 a share. At the close it was up 1.5% to R3,040. However, overall volumes were light following the US-led air strikes on Syria at the weekend, despite the attacks appearing to be a once-off event. The all share closed 0.30% higher at 56,733.50 points and the top 40 gained 0.48%. Banks rose 1.17%, industrials 0.72%, food and drug retailers 0.55% and general retailers 0.44%. The platinum index dropped 3.32%, the gold index 1...
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