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MARKET WRAP: Ramaphosa relief rally lifts stocks and the rand

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The banks index performs particularly well, gaining the most in a day since May

Markets celebrated the win by President Cyril Ramaphosa at the ANC conference, with banks and financials the main contributors to the JSE’s gains, while the rand also firmed in response.

The all share index closed 0.51% up at 73,359 points on Monday, while the top 40 index advanced 0.55%. Banks gained the most in nearly seven months, up 4.08% while financials added 3.36%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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