The JSE was higher at midday on Monday, as it piggybacked on the positive tone on world markets.Resource stocks did the heavy lifting, thanks to relatively higher commodity prices and corporate earnings, which more than offset the stronger rand environment.The all share was up 0.79% to 59,181.90 points at lunchtime, as big diversified resource shares gained 2.26%.Banks rallied to a record high, boosted by optimism of an economic turnaround under President Cyril Ramaphosa, who is perceived as liklely to pursue business-friendly policies.Pockets of strength were in play in the industrial sector, though the stronger rand held back some of the bigger rand hedges.The rand pushed to an intraday best level of R11.5069 to the dollar, before subsequently losing a bit of that momentum.Europe’s leading markets were higher at midday, following a positive session in Asia, where Japan’s Nikkei 225 gained 1.19%.Momentum Securities analysts said the direction of global risk assets hinged largely on...
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