MARKET WRAP: JSE shakes off US inflation report

The JSE tracked firmer US and European markets, while the rand firmed along with the emerging-market currencies even though the US reported higher-than-expected inflation.

The consumer price index for April rose to 8.3%, above the 8.1% forecast by economists surveyed by Bloomberg, but below the 8.5% recorded in March. However, the so-called core price measure — which strips out grocery and fuel costs — gained up 0.6% from the prior month, faster than its 0.3% increase in March…