The JSE was relatively flat at lunchtime on Monday, held back by the stronger rand, which was close to smashing the symbolic R12/$ level, its best since May 2015.A stronger rand tends cast big dual-listed shares in a less flattering light, but generally provides a tailwind to stocks that are mostly sensitive to the local economy.Thus, the all share was flat at 60,907.80 points at lunchtime, as the stronger rand hurt big mining and some industrial stocks, such AngloGold Ashanti and Richemont.But banks rallied to near record highs, lifted by a stronger rand and declining government bond yields, following significant political developments at the weekend.The ANC’s national executive committee resolved to recall President Jacob Zuma, whose two terms in office have been dogged by controversy.Separately, the government announced the appointment of the new Eskom board, long considered a key risk to SA’s already strained finances."Heightened optimism will boost confidence at both consumer a...
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