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MARKET WRAP: Miners keep JSE lower as Sasol plunges almost 13%

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Positive local economic and political news helped boost sentiment a little, but corporate news was mostly negative on the day

The JSE pushed higher on Wednesday, led by banks, as positive local political and economic news took some risk out of domestic risk assets.

Economic news was also good, with inflation slowing to 4.4% year on year in April, slightly below market expectations. The all share fell 0.53% to 55,231.1 points and the top 40 0.59%. Food and drug retailers gained 1.5% and banks 1.21%. The resources index slipped 2.41%. Rebosis plunged 14.55% to 94c. It said earlier that it had swung into a loss for the six-months toe end-February, largely due to a R2bn write down of its assets in the UK.

 

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