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It seems local equities can do no wrong, jumping 1.8% with almost all the indices making strong gains, says Nico Kelder, economist at the Efficient Group.
Local equities rallied even further yesterday buoyed by the positive GDP data and the good CPI also pitching in. Equities gained 1.5%, with financials (1.9) and resources (1.9) making the largest gains.
Local equities closed higher yesterday on the back of stronger than expected GDP data, despite the currency gaining almost 1% against the dollar.
This, although weakness was countered by upbeat company trading statements, enabling the market to close the week little changed.
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