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MARKET WRAP: JSE closes higher despite US-China strife

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MARKET WRAP | JSE closes higher despite US-China strife

By the close the JSE all share was up 0.88% at 56,537.7 points with resources leading the gains, up 1.08%. The top 40 rose 0.97%.

Gold miners fell on the day with AngloGold Ashanti leading the losses, down 3.57% to R163.22. Sibanye-Stillwater dropped 3.19% to R11.52, Gold Fields 2.33% to R52.71, and Harmony Gold 2.79% to R22.26. Investec Ltd rose 3.66% to R92.37 after the bank reported a 5.8% rise in earnings for the year to end-March, citing improved performance from its UK business.

The rand was firmer against major currencies on Thursday afternoon, as risk-on trade continued. At 6.12pm, it had pared some of its earlier gains to trade flat at R14.2157/$, up 0.24% to R15.8865/€, and 0.42% to R18.1845/£.

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