Disappointing local data did not keep the JSE significantly lower on Thursday, with the local bourse flat as miners found favour from a rising oil price.
The all share was flat at 58,697.6 points while the top 40 was little changed. General retailers lost 1.98% and food and drug retailers 1.45%. The resources index firmed 1.42%.ining output contracted 1.5% year on year in April, much worse than the 0.5% fall expected by the Bloomberg consensus. April marked the sixth consecutive month that the sector has declined in year-on-year terms, battered by industrial unrest and unreliable electricity supply.
“The deindustrialisation trend continues in SA, with unemployment rising alongside it, as industry is also seen to continue to face regulatory blockages and a high regulatory burden, with anecdotal evidence even of some inconsistent, and arbitrary application of these regulations,” Bishop said.