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Shaun Le Roux from Alphen Asset Management reports that the ALSI ended almost a percent down despite a 6.9% weakening of the rand against the dollar.
"...The rand is trading firmly around R/$5.00 this morning after it was announced late yesterday that Robert Mugabe's ruling Zanu PF party was defeated by the MDC in the Zimbabwean election.
The exporter sales of dollars helping it keep global greenback rise at bay, though some weakness was seen because of the dollar's performance.
Edcon (+3.31%) and Truworths (+1.26%) surged the most. Other events on the market were the strong performance of Johnnic Holdings (+9.18%) and the stumbling of Tiger Brands (-2.00%).
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