The JSE’s early rally faded at lunchtime on Friday as big industrial stocks came under pressure, countering a rally in platinum and gold shares. The all share index was flat at 51,086.4 points, but gold and platinum miners rose 3.78% and 0.99%, respectively, on account of slightly better commodity prices and bargain-hunting following a sharp drop over the past few days. Healthcare stocks were the main drag in the industrial sector, which has a large weighting in the all share and is sensitive to fluctuations in the rand exchange rate. The Robert Group’s head of investments, Devin Shutte, said investors adopted a cautious line given the uncertain political environment. "A volatile local political landscape has seen selling in the rand and government bonds. As a result investment has remained tentative, despite some building tailwinds." Europe’s leading markets were weaker at midday, following a generally positive session in Asia. Oil prices, which have been of the major areas of focu...
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