Cape Town - After a slow start, the JSE managed to gain momentum in the afternoon to close the day firmer.
The rand continued to gain against the greenback, as the US dollar remained under pressure against a basket of major currency pairs. The rand managed to reach intra-day highs of R12.91 against the US dollar, and when the JSE closed it was trading at R12.93/$.
The weakness in the US dollar set the tone for strength in gold prices, however gold miners on the JSE traded under pressure despite this reprieve. AngloGold Ashanti was one of the top losers in the Top-40 Index dropping 1.51%%, whilst Gold Fields eventually managed to close up 0.82%. Retail and financials stocks benefitted from the firmer rand which saw stocks such as Truworths and Standard Bank closing up 2.11% & 1.37%.