Many JSE stocks have made a poor start in 2025. The retail sector has been hammered, nursing a rough hangover after partying far too hard in 2024 with major share price gains. The all share index may be flat thus far, but the underlying divergence in sector performance has been quite something.

Aside from the resource 10 index doing some heavy lifting (up 15% this month at the time of writing), there’s also been a helpful contribution from luxury stalwart Richemont. A 23% gain in the space of just a few weeks has secured a much better start this year for luxury enthusiasts who watched sector share prices wash away in the latter half of 2024...

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