The JSE was relatively flat at lunchtime on Monday, kicking off the new week on a tentative note.The all share index was at 53,606 points, as the underlying constituent indices paused after a strong run last week.Banks were little changed, after rising almost 5% last week in their biggest weekly gain since December, boosted by a sharp recovery in the rand."The short-term strength in the rand indicates that trading exposure in financial and banking counters should be retained for the moment," according to analysts at Momentum SP Reid Securities.Retail stocks were mostly weaker, suggesting a level of profit-taking in shares such as Mr Price that rose 9% last week.The all share gained just more than 3% over the course of last week, its best performance since April.Both banks and retailers, which are sensitive to changes in interest rates, could get short-term direction from the Reserve Bank’s monetary policy committee, which is set to make its latest pronouncement on interest rates on ...
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