The JSE remained in positive territory at lunchtime on Friday, tracking the upward momentum in global markets. Banks were having a particularly strong session, with analysts linking the rally to a possible cut in interest rates by the Reserve Bank on Thursday. "I’m not so sure if the Bank will follow through and cut rates on Thursday, given the renewed volatility in the rand," Afrifocus Securities portfolio manager Ferdi Heyneke said. Pulling on the downside were resources, which reeled from a sharp retreat in commodity prices over the past week, as the dollar recovered. Shortly after midday the all share was up 0.67% to 56,015.70 points, helped in part by some larger industrial stocks, including Richemont, which hit an intraday record high. Bidvest and Naspers were also well supported in the industrial sector, while Netcare was lower. The global backdrop was supportive of the local share market, from Asia, to Europe, where leading stock indices were all higher by midday. The outcom...
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