The JSE gained on Friday as the rand slipped through R14 to the dollar, lifting rand-hedge mining stocks, in particular. But banks stumbled, pointing to a sense of anxiety in the market, just hours before Moody’s and SP Global Ratings deliver the long-awaited decisions on SA’s debt rating.The country’s rand-denominated debt could be relegated to sub-investment grade, or so-called junk status, an outcome that could increase the cost of borrowing for banks.Retailers and other "SA Inc" stocks could be affected by the ratings downgrade via a weaker currency, and reduced business and consumer confidence. However, the local share market as a whole stands to benefit as it is dominated by companies that make most of their income offshore.The all share was up 0.3% to 60,476.10 points by lunchtime, with gold and platinum stocks gaining 1.81% and 2.76%, respectively, thanks to a weaker rand.Other areas of the market were relatively subdued, partly because of a lack of fresh drivers from the ov...
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