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The rand softened against the dollar in late trade on Friday as the greenback clawed back some of its global losses inspired by Thursday's revaluation of the Chinese yuan.
The talk of the market yesterday was SABMiller (9.39%) purchasing a controlling interest in the second largest brewer in Latin America, Bavaria. The next largest gainer was City Lodge group (7.55%) which spurred most of the blue chips to record increases
Absa Corporate and Merchant Bank (ACMB) has strengthened its merchant banking team with the establishment of an independent structured products business unit.
FirstRand gained 2.36% yesterday despite the company denying takeover talks with Citigroup, while RMB Holdings (2.89%) Nedbank (2.18%) and Absa (1.22%) followed suit.
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