The JSE rallied on Friday, enjoying the positive momentum of world markets. The all share was up 0.58% to 58,233.70 points at lunchtime, as the top 40 gained 0.69%. Big industrial stocks and miners led the charge, as the rand extended losses against major currencies. The weaker rand tends to favour big, dual-listed stocks, which derive the bulk of their income outside SA. In the resource sector, prices of base commodities, such as copper and iron ore, were on an upward march after dropping slightly on Thursday. Banks and retailers were under pressure, partly affected by a weaker rand, which was near the weakest end of its recent trading range at R13.73 to the dollar. Europe’s leading markets were higher at midday, following a positive hand-over from counterparts in Asia, where Hong Kong’s Hang Seng was 1.17% to the good. Some of the main equity benchmarks wobbled on Thursday, which marked the 30th anniversary of the so-called Black Monday, when the Down Jones Industrial Average cras...
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