The JSE was weaker on Wednesday, under some pressure as Brent crude breached the $80 a barrel level for the first time in four months.Signs that US sanctions on Iranian oil exports are having a quicker effect than expected, as well as Hurricane Florence due to make landfall the US, has lifted the price of Brent crude to the psychologically important level.Banks were weaker, despite a stable rand. Higher oil prices tend to stoke inflation, and improve the likelihood the Reserve Bank will raise interest rates. Miners were firmer, as most commodities rise in tandem with the price of oil.Local news was mixed. The South African Chamber of Commerce and Industry (Sacci) business confidence index for August earlier showed a decline of 4.2 points from July’s 94.7. Retail sales for July, however, matched consensus expectations, rising 1.3% year on year in July.The all share fell 0.4% to 55,952 points and the top 40 0.45%. Banks fell 2.56% and general retailers 1.57%. Gold miners gained 1.88%,...
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