The JSE stood tall against other global equity markets on Monday, after the rand took another slide amid concerns that SA’s local-currency debt rating could soon be rated as junk. Moody’s and S&P Global Ratings will review the credit ratings of SA next week, as the country’s finances are increasingly under strain amid competing interests. The all share, which is dominated by stocks that make most their income outside SA, was up 0.43% to 60,035.9 points by lunchtime. The positive tone in the all share coincided with a weaker rand, which tends to flatter earnings of these large globalised companies. "Markets are watching the rand with bated breath. It will be interesting to see how a weaker currency plays out in consumer spending," said Nilan Morar, head of trading at GT Private Broking. Banks and retailers broadly held up, though, despite the weaker rand, which was at its lowest point to the dollar in about year, at R14.51. Vodacom-led losses among telecoms stocks, after slightly tri...
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