The JSE closed marginally firmer on Tuesday, as retailers led the gains on a stronger rand, while property stocks also did well. Risk-on trade was encouraged by a strong opening on the Dow, gaining more than 1% by the JSE’s close, following in the footsteps of upbeat European markets, which benefited from a weaker euro. Volumes were low for the second consecutive day, as the market awaited March’s consumer price inflation data on Wednesday. Mining stocks had a negative day on a firmer dollar and a flat Brent crude price, which stabilised at about $71.56 a barrel. The gold index dropped just short of 3%. Rand hedges were mixed in choppy trade, as Naspers managed to close just above R3,000 a share. British American Tobacco lost ground but Anheuser-Busch InBev and Richemont closed higher. Steinhoff rocketed on the day, ahead of its AGM on Friday, after the group shelved a plan to increase the remuneration of executives. The all share closed 0.16% higher at 56,826.70 points and the top ...
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