The JSE held onto mild gains at lunchtime on Monday, reflecting a generally positive tone in global markets. The all share was up 0.27% to 58,104.10 points, with the weaker rand providing a tailwind to a few big industrial and mining shares, which make the bulk of their revenues outside SA. The rand traded near the weakest end of its recent range, at R13.70/$, at the start of a crucial week, which will feature the medium-term budget policy statement. Banks and retailers received some buying support, after a late sell-off on Friday, which analysts linked to speculation that President Jacob Zuma could fire Deputy President Cyril Ramaphosa, in yet another Cabinet reshuffle. Presidency spokesperson Bongani Ngqulunga has since dismissed the speculation. Local listed shares with exposure to the UK market were under renewed pressure as Brexit negotiations continued to weigh on these, which include Capital & Counties, Intu Properties and private equity group Brait. Brexit-battered stocks ha...
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