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Nico Kelder, economist at the Efficient Group, reports that Local equity markets closed higher yesterday, gaining 0.43%, despite the currency strength - around 1 percent against al the majors.
(26.8.04) The All Share dipped 0.7% after gaining 10 percent over eight sessions and hitting a five-and-a-half month peak on Monday. The currency gained against all the majors.
(24.8.04) The All Share gained more than 2% and closed at a new 4 month high of 11166. The currency traded mixed, weaker against the dollar and sterling but stronger against the euro.
"This result was achieved despite the adverse affect of the stronger rand on the translation of earnings from the group's foreign operations and the negative impact of reduced net interest margins in the group's domestic banking operations," says Jacko Ma
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