The JSE was lower on Tuesday due to a stronger rand, as markets continue to digest the implications of Turkey’s financial crisis.Banks were firmly higher on the day, more than recovering losses sustained on Monday. Miners fell sharply, however, under pressure from a firmer rand and gloomy Chinese data — this despite upbeat local stats on the sector.The all share lost 0.48% to 57,608.9 points and the top 40 0.52%. Gold miners slumped 6.04%, platinums 2.2% and industrials 0.62%. Banks gained 1.98% and general retailers 1.84%.The rand firmed more than 2% as the Turkish lira showed signs of stabilising, although concerns over that country’s debt exposure and its conflict with the US over the detention of an American citizen remain unresolved.Local data was supportive, with the mining sector recording growth for the first time in three months. Production rose 2.8% year on year in June, while the contraction of 2.6% year on year originally reported in May was revised to just 1.8%.Mining p...
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