Cape Town - Financials and retailers were buoyed by the firmer rand in Monday’s trading session, and ended in positive territory for a second straight session.
This strength in the rand was mainly due to the weaker US dollar, which continued to slide on the back of the miss in non-farm payrolls numbers on Friday. The rand managed to reach highs of $12.68 against the greenback before retracing back slightly to trade at $12.70 to the dollar when the JSE closed.
The JSE All-Share Index managed to close relatively flat and was down 0.04%, with the blue-chip top 40 closing down 0.17%. Financials traded firmer to close up 0.74%, led by Barclays Africa and Standard Bank who were up 2.01% and 1.28% respectively. Retailers rode the wave of the firmer rand, managing to score gains of 2.41% for the day.