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The JSE Securities Exchange SA (JSE) bounced into positive territory yesterday from what dealers described as an oversold position.
The rand extended its gains last week against major currencies, closing higher at R6,58 against the US dollar from R6,65 in the previous week, reports the Nedcor Economic Unit.
Increasing concerns over escalating tension in the Middle East led the market down at the start of the week following the Israeli killing of Sheikh Ahmed Yassin, the spiritual leader of Islamic militant group Hamas.
Local equities closed strongly on Friday, with gold stocks leading the way, says Nico Kelder, economist at the Efficient Group.
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