The JSE closed firmer on Wednesday, as a number of positive economic indicators buoyed sentiment towards locally focused shares, while miners benefited from a rising oil price. A higher platinum price boosted platinum shares despite a firmer rand. Banks, financials and retailers ended the day in positive territory. After rising more than 2% at one point, Brent crude was 1.72% higher at $72.89 a barrel at the JSE’s close. Inflation, measured by the annual change in the consumer price index (CPI), came in at 3.8% in March, below a Trading Economics consensus forecast of 4.1%, and strengthening the case for further interest-rate cuts by the Reserve Bank this year. Retail sales growth jumped an annual 4.9% in February, after rising 3.3% in January. The February number was well above consensus expectations of 3%. The pick-up in demand in the economy remains relatively modest and is unlikely to concern the monetary authorities, said Nedbank economist Isaac Matshego. "Instead, continued lo...
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