JSE lags global recovery as rand strength saps industrial sector

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The new JSE logo. (Supplied)
The new JSE logo. (Supplied)

Johannesburg - The global rally in share prices, sparked by Wall Street's Dow Jones index breaching 20 000 points for the first time on Wednesday evening, lifted financial and industrial shares on the JSE on Thursday morning.

The JSE was however not as exuberant as its global peers, as the strong rand continued to put a cap on the prices of the dual-listed shares which represent more than half of the JSE’s market value.

Profit-taking in the resources sector, which stopped the rally in these shares in its tracks on Wednesday, also continued on Thursday and at mid-morning the sector was already 1.80% lower than the previous close.

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USD/ZAR
14.05
0.0%
GBP/ZAR
19.67
0.0%
EUR/ZAR
17.10
0.0%
AUD/ZAR
11.03
0.0%
JPY/ZAR
0.13
0.0%
Gold
1,831.32
0.0%
Silver
27.45
0.0%
Palladium
2,929.64
0.0%
Platinum
1,256.50
0.0%
Brent Crude
68.28
+0.3%
Top 40
62,573
+1.4%
All Share
68,520
+1.4%
Resource 10
71,474
+2.1%
Industrial 25
86,856
+0.9%
Financial 15
12,711
+1.1%
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