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JSE losing momentum on rand strength

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Johannesburg - The JSE continued its slow recovery on the JSE on the back of positive sentiment on global markets, but the momentum is slowing as the stronger rand is beginning to have an influence on dual-listed shares.

Although global stocks scaled record highs on Friday, capping their best week in over two months as the dollar stayed close to nine-month lows, the All-share index on the JSE was only 0.02% higher at 53 313 points at mid-morning. The Top 40 index, which includes most of the dual-listed shares, was only 0.03% up at 47 068 points.

Before Friday’s trade the All-share index gained 1.56% over the previous seven days and the Top 40-index improved 1.76% over the period. The JSE is however only 0.87% higher over the past month.

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ZAR/USD
17.37
(+0.66)
ZAR/GBP
22.66
(+0.78)
ZAR/EUR
20.49
(+0.23)
ZAR/AUD
12.46
(+0.38)
ZAR/JPY
0.16
(+1.11)
Gold
1940.17
(+1.80)
Silver
25.75
(+3.74)
Platinum
934.00
(+1.46)
Brent Crude
44.46
(-1.09)
Palladium
2132.50
(+1.96)
All Share
57417.28
(+0.44)
Top 40
53126.54
(+0.56)
Financial 15
10139.85
(-0.74)
Industrial 25
76210.18
(+0.91)
Resource 10
58992.57
(+0.54)
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