The JSE extended a relief rally at midday on Monday‚ helped mainly by the rand-hedge stocks.
The all share index was up 0.54% at 51‚095.70 points‚ after losing more than 2% last week. The blue-chip top 40 added 0.60%.
The rand fell to fresh 14-year lows to the dollar in the early afternoon session and weakened materially against both the euro and British pound.
"Commodity-based currencies continue to have a hard time‚" Investec Asset Management’s head of dealing for emerging markets‚ Ryan Wibberley‚ said.
"There is plenty of uncertainty about the direction of the global markets at the moment."
European share markets were mostly higher at midday after their Asian counterparts ended mixed. US stock futures indicated a weaker session on Wall Street later in the day.
Imara SP Reid analysts said in a note that nervousness about currency adjustments‚ US economic data and the interest-rate trajectory in the US remained the dominant drivers of near-term trade direction on global markets.
Among individual shares on the JSE‚ Anglo American was up 1.78% at R153.97.
Rand hedge stocks boost JSE
The all share index was up 0.54% at 51‚095.70 points‚ after losing more than 2% last week. The blue-chip top 40 added 0.60%.
The rand fell to fresh 14-year lows to the dollar in the early afternoon session and weakened materially against both the euro and British pound.
"Commodity-based currencies continue to have a hard time‚" Investec Asset Management’s head of dealing for emerging markets‚ Ryan Wibberley‚ said.
"There is plenty of uncertainty about the direction of the global markets at the moment."
European share markets were mostly higher at midday after their Asian counterparts ended mixed. US stock futures indicated a weaker session on Wall Street later in the day.
Imara SP Reid analysts said in a note that nervousness about currency adjustments‚ US economic data and the interest-rate trajectory in the US remained the dominant drivers of near-term trade direction on global markets.
Among individual shares on the JSE‚ Anglo American was up 1.78% at R153.97.
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