JSE gains 2.4% driven by banks and consumer stocks

The Johannesburg Stock Exchange closed sharply higher Monday, with the All Share Index rising 2.42% to 119,606.91 points. The banking sector was boosted by Lazard's acquisition of a 5% stake in Nedbank, according to Business Day. Shoprite also supported the market with strong results showing 'robust momentum', reports TipRanks. The Top 40 Index outperformed with a 2.60% gain to 111,829.61 points.