Resources shares lead the way as all share remains in positive territory
The JSE was off the day’s best levels at lunchtime, though it remained up on Tuesday as the rand regained some of its losses. The all share index was up 0.46% to 52,427.60, after rising just more than 1% in earlier trade as the rand weakened through R13.60/$ for first time since early May. It had recovered slightly by lunchtime. Resources shares led the charge as the weaker rand more than compensated for iffy underlying commodity prices. Another strong contribution came from industrial stocks, in particular Naspers, which enjoyed good support for the second session running, leaving Africa’s most valuable share with a gain of almost 4% in two days. But retailers and financial stocks were weaker, partly on account of a weaker rand, which analysts attributed to local political news. Sanlam Private Wealth head of online trading Gerhard Lampen said catalysts were few and far between to sustain the local share market at a higher level. "Despite the small correction on the JSE, shares are ...
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