MARKET WRAP: JSE rebounds to near record high, boosted by miners

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Weaker rand fails to dent industrials and SA-focused stocks as investors appear to be coming to terms with higher rates

The JSE rallied strongly on Thursday as big diversified miners in particular rebounded from the sharp sell-off the previous day, helped in part by stability in commodity prices.

The rand was nearly 1% weaker at R18.15/$, the lowest level since early November, according to Infront data and is down a hefty 20% year on year. Initial considerations on Vodacom range from merging the business with other operators or divesting some assets in certain markets, to even selling a stake in the company, Bloomberg News reported, citing people familiar with the matter.

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