The JSE was a lot stronger at lunchtime on Friday, powered mainly by industrial stocks and banks, while resources were patchy. The all share was up 0.67% to 59,949.80 points, as industrials and banks gained 1.41% and 0.88%, respectively. Naspers was a star performer among the blue-chip stocks, extending its record run following Hong Kong-listed Tencent, in which it owns about a third, reported better-than-expected results earlier in the week. For the week, banks and broader financial shares held out reasonably well despite headlines around local politics that caused some volatility in the rand. However, diversified resources were poised to end a four-week rally after performing poorly during the week due to weak commodity prices. Momentum Securities analysts said in a note that lower commodity prices "represent a short-term correction rather than a reversal of trend". Europe’s leading markets were mostly weaker at midday, despite a positive hand-over from Asia, where Hong Hong’s Han...
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