The JSE had fallen from earlier highs at lunchtime on Wednesday as a stronger South African currency hit gold stocks and rand-hedge industrials. In rising to its best level to the dollar in about month at R13.52 the rand weighed down some of the big rand-hedge industrials. But banks, which usually benefit from a stronger currency, looked patchy and there was some consolidation after the strong rally of recent weeks. The all share was up 0.41% to 49,128 points, after gaining up to 1.25% earlier in line with stronger world markets. Grant Gilburt, Nedbank Private Wealth’s stockbroking portfolio manager, attributed the upward moment in world equities to expectations of the European Central Bank extending its stimulus programme on Thursday. Europe’s leading markets were more than 1% higher at midday after similar buoyancy in Asia, where Japan’s Nikkei 225 was just shy of 1% firmer. "Macroeconomic data has largely trumped political noise in recent sessions, with the US in particular holdi...
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