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JSE closes firmer ahead of U.S. Fed announcement
Last Updated: 2018-06-14 10:46 | Xinhua
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The Johannesburg Stock Exchange (JSE) closed marginally firmer on Wednesday as global markets expect interest-rate hike by the US Federal Reserve later Wednesday.

The local currency firmed to R13.21 to the U.S. dollar, after weakening to R13.39 in intra-day trade.

Local data on the day disappointed. The Reserve Bank in its figures released on Wednesday noted a small gain in retail sales, an indication of a reduction of rate increases.

Annual growth in retail sales amounted to 0.5 percent in April, much lower than the market's forecast of 4.1 percent from a downwardly revised 4.6 percent (previously 4.8 percent) in March.

The all share closed 0.39 percent higher at 58,437.2 points and the top 40 rose 0.56 percent. Banks were up 1.2 percent. General retailers shed 1.61 percent.

Naspers closed 1.23 percent higher at R3,393. The company in a statement said the core headline earnings per share for the year to end-March were expected to rise.

Woolworths lost 1.04 percent to R56.1. Enditem

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