The JSE turned weaker at lunchtime on Monday, with a stronger rand holding back stocks with global reach. The local currency strengthened through the R13 to the dollar mark, hurting big diversified miners and industrials in particular, but provided a buffer to banks. As recently as last week, the rand was at R13.18 to the greenback before pulling back to highs of R12.94. "Our currency will be an interesting dynamic to watch. It is certainly keeping our market at bay," the head of trading at GT Private Broking, Nilan Morar, said. The R13.59-trillion all share index was off 0.15% to 51,628.90 points lunchtime as resources and platinum stocks shed 0.82% and 1.08%, respectively. The trading picture was equally uninspiring on the global scene, with Europe’s leading markets tracking lower at midday, after a mixed session in Asia. US stock futures pointed to a positive opening on Wall Street, where the focal point was the near-term outlook on interest rates. Markets expect the US Federal R...
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