The South African share market extended its losses at lunchtime on Thursday, thanks to a relatively stronger rand that weighed on the big resources and industrial stocks. The volatility in oil prices also kept global risk appetite at bay. The price of international Brent crude recovered 1% to $45.21 a barrel, but was still trapped at its lowest point since November. At 12.25pm the all share index was off 0.86% at 50,959.40 points, as resources and industrial stocks shed 1.38% and 0.70%, respectively. Financial stocks fell with retailers, despite a stronger currency that usually counts in favour of the two domestically geared sectors. "From a value proposition point of view, retailers and banks are starting to look interesting, as are gold stocks, because we think they may have found a base at these levels," IG SA’s premium clients manager Leigh Riley said. Gold miners rallied for the second straight day, but were still weaker than they were a week ago when the release of the revised...
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