JOHANNESBURG - SA banking and retail shares exploded yesterday following the signing of an agreement to form a government of national unity.
Bloomberg reports that the index of bank stocks reached a record high, gaining almost 6% at one point.
It says this is the biggest rally since November 2020.
Absa, Standard Bank and Capitec ended the day more than 5% higher, with Old Mutual up almost 8%.
Woolworths, Mr Price, Pick n Pay and Discovery all gained 6% or more.
The JSE's All-Share Index rose almost 1%.
By early evening, the Rand was trading around R18.40