The JSE gained on Thursday in thin-volumes, despite a rand slump, as markets waited for the start of the highly anticipated Group of Seven (G-7) summit in Canada.The rand lost about 2% against the dollar and euro ahead of expected monetary policy tightening in both the eurozone and the US next week.Local data on the day showed manufacturing production had risen 1.1% in April, which follows the first quarter’s dismal performance. This was at the lower end of consensus forecasts that ranged between 1% and 1.6%.Local miners represented the best performing indices on the day, while banks reversed earlier gains to close lower as US markets opened, and the rand extended losses. Domestic sentiment this week has been battered somewhat by the economy’s poor showing in the first quarter, although global stocks have been buoyant.US markets were higher on Thursday, lifted by data there, on jobless claims, that beat the market’s expectations.The all share closed 0.53% higher at 58,391.60 points ...
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