The JSE all share closed firmer on Thursday, as the stronger local currency bolstered banks and retailers, while platinum stocks rose on Sibanye-Stillwater’s takeover deal for Lonmin. General retailers and banking stocks rocketed after the rand reached its best level to the dollar in two months. Global sentiment turned dovish after the Bank of England kept rates unchanged, and the European Central Bank (ECB) re-affirmed its loose monetary stance, which would continue until at least September 2018. The rand was also supported by views that Deputy President Cyril Ramaphosa had all but wrapped up the ANC elective conference. He leads in the branch nomination stakes, with rival Nkosazana Dlamini-Zuma’s supporters still stuck in a number of court cases, which may influence the outcome in Ramaphosa’s favour. Analysts emphasised the rand would be key to the fortunes of the JSE in the coming week. The all share has been struggling this week, closing lower on Monday, Tuesday and Wednesday. A...
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