JSE opens flat as miners gain and banks soften
Upbeat closure on the Dow fails to lift market as rand hovers around R14 to the dollar on subdued Naspers
The JSE opened flat on Friday in subdued trade, hovering just above the 56,000 points level, as resources rebounded from weaker levels while banks and retailers softened on a steady rand. The rand was at R14.15 to the dollar from R14.1266, with the local currency trading fairly resiliently, despite failing to convincingly break through R14 in a choppy dollar environment. "But significantly, the rand continues to hold below R14.20," Nedbank analysts said. Trade data set to be released later in the day could provide some support to the local currency, and the overall market, if it surprises to the upside. Brent crude dipped below the $82 level to $81.57 a barrel with spot gold and platinum largely flat. Naspers opened flat as trade in the market heavyweight remains subdued following an announcement last week that it intends unbundling its MultiChoice subsidiary. The Dow closed 0.21% higher on Thursday, with strong performances from Apple, Alphabet and Facebook. Asian markets were up...
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