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JSE ends on good footing as markets close for Christmas

The JSE closed on a good footing as most markets around the world only traded for half the day.

Picture: Supplied.

JOHANNESBURG - With the rand and markets under pressure over the past few weeks following the firing of Finance Minister Nhlanhla Nene, calm has finally returned to the local bourse.

In what has been a pressure-filled month for traders, the Johannesburg Stock Exchange (JSE) has closed for the long weekend on a good footing, with many breathing a sigh of relief following the appointment of Pravin Gordhan.

Most markets around the world have only traded for half a day.

The JSE closed at noon with the all share rising point 95 percent to 51,324 points.

Resources have been strong this week, rising 1,95 percent today.

A slightly stronger oil price has also benefitted energy companies with Sasol among them, rising one point 48 percent.

By 1200 GMT the rand had edged 0,08 percent firmer to 15.1975 per dollar, taking advantage of a pause in the greenback's rally sparked by signs that the US central bank would raise rates further in 2016.

Retailers have also seen a share price increase, reporting strong Christmas sales.

After major loses due to the decision to change finance ministers, traders will be hoping for a peaceful new year.