The JSE struggled to find traction on Wednesday in line with some of its peers in Europe, following two days of solid gains driven partly by the outcome of the first round of the French presidential election. The all share index was relatively flat at 53,267 points at lunchtime, having gained 2% over the past two days, bolstered primarily by big industrial shares. "Industrials continue to provide leadership to the domestic market as the sector has broken beyond the bearish trend line, which had inhibited upside momentum," said Momentum SP Reid Securities analysts. Banking stocks and retailers tracked lower as the rand retreated further, touching R13.19/$, from its recent highs of R12.87, indicating a high degree of volatility. The resource market was patchy, with single-commodity stocks broadly struggling to find a floor after falling sharply this week while diversified miners were relatively flat. Resource stocks in general have fallen sharply in recent weeks, despite the weaker do...
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