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The rand raced to a fresh two-month peak yesterday, piercing the key technical level of R6,50 against the dollar, while more gains were seen on the back of a resurgent euro.
The latter after JD Group (0.39%) announced a planned take-over of Connection Group at a price of R14.75 a share. Highveld Steel & Vanadium (10.44%) was the second largest gainer while Real Africa Holdings was the largest loser declining 16.00%.
The two heavy weights, Anglo American (0.45%) and BHP Billiton (0.45%) tried their utmost to over come the negative sentiment, but to no avail.
John Kinsley, chairman of the ACI, says that collective investments only make up 5% of the total capitalization of the JSE, but he says that things are set to change.
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