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MARKET UPDATE MAY 2016
South African Market:
As you were! Local markets reverted to type this month as recent rallies in the Rand and Resource shares turned around, halted by local politics, S&P’s impending credit rating announcement and global economics. Industrial shares and cash were the only sources of positive returns to be found. This month’s political own goal came in the way of a report in the Sunday Times that the Hawks want Finance Minister, Pravin Gordhan to be prosecuted for “espionage”?!