MARKET WRAP: JSE lifted with gold miners leading the gains

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Retail sales growth slowed to 1.1% in August, while the Bloomberg median forecast was for an increase of 1.7%

The JSE closed higher on Wednesday, with gold miners leading gains, while the rand pared some losses after weakening through the R15/$ level for the first time this week.

At 5.30pm, the rand had weakened 0.3% to R14.9304/$, 0.56% to R16.5153/€, and 0.67% to R19.1627/£. The euro was up 0.27% to $1.1062. Global markets were mixed on Wednesday as investors await further direction regarding the Brexit deal and the US-China trade war, amid fears that these geopolitical issues will continue to weigh on global growth.

Markets have partially priced in a third interest-rate cut this year from the US Federal Reserve amid fears the slowing US economy.

 

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