The JSE closed stronger on Friday, with resources and gold miners leading the gainers, as investors bought local shares after profit-taking on Thursday. The all share index closed 0.41% higher at 51,629.20 points with the top 40 up 0.45%. Resources closed 1.76% higher, followed by the gold index, adding 1.31%. At the JSE’s close, the gold price was flat (+0.04%) at $1,266.40/oz. The Dow Jones was 0.45% softer at the JSE’s close and the UK’s FTSE (-0.09%), France’s CAC 40 (-0.08%) and Germany’s Dax (-0.02%) all flat. Local investors are keenly awaiting the medium-term budget statement next week, which is bound to influence credit ratings agencies’ views of SA. S&P Global Ratings will review its credit rating of SA early in December. It rates SA one notch above junk status at the moment. Investec economist Kamilla Kaplan said on Friday that the medium-term budget speech would be delivered against a backdrop of economic underperformance, constrained fiscal space and the heightened risk...
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