MARKET WATCH
Brexit-linked stocks enjoy relief rally after court ruling
JSE-listed stocks, which bore the brunt of the fall-out when the UK voted to leave the EU in June, rebounded strongly on Thursday, after the UK High Court ruled that "divorce proceedings" could not proceed without the approval of Parliament. Capital & Counties Properties, which has lost more than a third of its value since June 24, rose as much as 8% following the court decision, against which the government said it planned to appeal. Brait, which is 35% owned by billionaire retail titan Christo Wiese, recovered 5% but was still down 40% since late June. Intu Properties, which owns of some of the largest malls in the UK, regained 3.76%. UK Prime Minister Theresa May had intended to trigger Article 50 of the Lisbon Treaty in the first quarter of 2017, which would pave the way for exit talks over — and limited to — a period of two years. "While the ruling may be reversed when appealed at the start of December, the decision does offer hope to ‘remainers’ that the triggering of Article ...
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