The JSE took a leaf from the Asian markets trading session as it closed firmer on Wednesday.
This contrasted with trends in Europe and the USA where stocks eased from prior session highs as doubts started to creep in over Brexit and US earnings.
In the USA this was made worse by a contraction in retail sales data for the month of September.
Statistics SA also released South Africa’s retail sales data for the month of August which came in lower than forecasted.
Retail sales year-on-year only rose by 1.1% which missed the estimated expansion of 2.6%, while retail sales MoM contracted by 0.9% which was worse than the forecasted contraction of 0.1%.
The rand came under pressure overnight as it breached R15/$ to peak at a session low of R15.05/$. The local currency was recorded trading 0.57% weaker at R14.96/$ at 17:00.
On the local bourse, EOH Holdings [JSE:EOH] rocketed 18.34% to close at R16.00 as investors reacted to the firm’s full-year results released on Tuesday.
Although thin volumes exchanged hands, Rhodes Food Group [JSE:RFG] surged 14.12% to close at R16.00.
Listed property stocks tracked mostly higher on the day with gains being recorded for Accelerate Property Fund [JSE:APF] which climbed 11.8% to close at R1.80, Arrowhead Properties [JSE:AHB] which rallied 4.93% to close at R3.83, and Emira Property Fund [JSE:EMI] gained 2.9% to close at R12.40.
Mediclinic [JSE:MEI] was buoyed by the release of positive trading update which saw the stock close 3.83% to close at R70.50.
The JSE All-Share index closed 0.93% while the JSE Top-40 index managed to close 0.945 higher. The Resources index gained 0.53%, while the Industrials and Financials indices gained 1.16% and 1.08% respectively.
At 17:00, Gold was up 0.3% to trade at $1485.48/oz, Platinum was 0.43% weaker at $881.55/oz, while Palladium had risen 2.32% to trade at $1778.75/oz.
Brent crude advanced on the day and it was recorded trading 1.02% firmer at $59.30/barrel just after the JSE close.