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The JSE pushed to its best level in a fortnight on Tuesday, as banks raced to record highs, having added more that R100bn to their market caps in just two sessions. Other consumer-orientated shares gained substantially for the second day running after the country’s deputy president, Cyril Ramaphosa, was confirmed as the new ANC leader, removing the uncertainty that has kept a lid on stocks that depend heavily on the local economy. The all share was up 1.67% to 58,669.30 points at lunchtime, logging its biggest one-day gain since mid-July, as banking stocks surged 6.63%, in line with a stronger rand environment and falling bond yields. Despite being on a generally better footing, the rand was weaker against the dollar on the day, with the stronger environment putting pressure on big rand-hedge shares, such as Sasol and Bidcorp. Ramaphosa narrowly beat former AU Commission chair Nkosazana Dlamini-Zuma to succeed President Jacob Zuma‚ whose tenure has been dogged by controversy. The ma...

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