The JSE closed firmer on Monday, as banks and financials rallied with the rand poised to break through R12 to the dollar and as favourable political developments supported sentiment. Miners ended the day lower on the firmer rand and subdued commodity prices. Global equity markets were mixed, with the FTSE 100 losing 0.11% but the DAX 30 gained 0.20%. The Dow was flat as US markets took the partial US government shutdown in their stride. 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. The all share closed 0.27% higher at 61,078.30 and the blue-chip top 40 added 0.2%. Banks rose 2.48%, financials 0.98%, general retailers 0.97% and industrials 0.22%. The gold index shed 2.23%, resources 0.46% and platinum 0.15%. Rand hedge Richemont fell 1.93% to R111.85 and A...
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