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The local equity market closed marginally (-0.03%) in the red yesterday (12 July) with financial and mid cap stocks doing their best to push the JSE to a new record high, but resources, the heavyweights, had other ideas.
The JSE (1.11%) seems as invincible as Lance Armstrong in the Tour de France, with another record high, the third for this week.
With the JSE trading on a P/E of about 14.5 times, many astute investors are questioning the sustainability of the bull market globally and in South Africa.
The Efficient Group reports that the JSE’s star performers were the overseas players BHP Billiton (+1.41%) and Anglo American (+1.34%), the poor performers were retailers Shoprite (-2.66%) and Woolworths (-1.90%).
Would you willingly give up your medical scheme membership under a fully implemented NHI?