The JSE pushed higher on Wednesday, shrugging off the rand’s recent slide against the dollar, while global markets were somewhat muted amid looming risk events. Local data and corporate news were largely positive, but global factors were in the limelight, notably the US Federal Reserve monetary policy announcement at 8pm local time. Rising US bond yields would take the shine off emerging-market equities and bonds, which have in recent years found favour due to the relatively high yield they offer. Retailers were lower, despite the high court earlier rejecting an appeal from the National Credit Regulator, instead finding in favour of Lewis Stores. The regulator was seeking to appeal a previous ruling that set aside the need for controversial income verification requirements when issuing store credit. Anheuser-Busch InBev, trading ex-dividend, slumped 4.28% to R1,217.57, after rival Molson Coors disappointed the market with its results in the US. There were also reports earlier that A...
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