Cape Town - The JSE closed firmer on Friday, with thin volumes traded ahead of the long weekend.
The rand held steady for most of the day, strengthening to R13.24/$ before losing ground to the dollar in late trade and by 17:30 weakened to R13.35/$. The local currency benefited from pedestrian US GDP data which softened the greenback.
The S&P500 was trading 0.15% lower at the close of the JSE after poor GDP data was released. The US economy grew at its weakest pace in three years, as consumer spending slowed and businesses held back on inventory spending – limiting annual growth to 0.7% for the first quarter of 2017, down from 2.1% previously. The disappointing numbers are expected to be temporary, with the US labour market nearing full employment and consumer confidence near multi-year highs.