MARKET WRAP: Rand and JSE buoyed by lower US producer prices

The rand gained the most in two months on Thursday while the JSE tracked firmer global markets after another positive inflation report from the US.

The Bureau of Labor Statistics reported that the producer price index (PPI) in March fell 0.5% from a month earlier, below all estimates in a Bloomberg survey. On an annual basis the PPI rose 2.7% from a year ago — the smallest gain in more than two years, Bloomberg reported…