The JSE took a breather from its recent rally yesterday, pulling back a third of a percent. It's still up 4% this month and 9% for the year though. That pales next to gains in the US, where the main Wall Street indices reached new highs on reports that an initial trade deal with China would be signed early next month. The broad S&P 500 index has gained about 27% this year despite a year and a half of uncertainty due to the trade dispute.

At home, Naspers provided a cushion, rising 1.2% even though recently-listed subsidiary Prosus pulled back a little. It has increased its bid for London-listed Just Eat yet again but is meeting stiff resistance from fellow suitor Takeaway.com. A showdown is set for 10 January, when offers from both companies close.

AngloGold Ashanti also moved higher after its Obuasi Gold Mine in Ghana poured its first gold, on time and within budget. And Gemfields rose after Zambia suspended a contentious export duty that was intended to add to the country's coffers but had the opposite effect due to its impact on mining output.

More on those stories in your final newsletter for the week, along with news of a potential deal involving Bidvest and another tranche of funding for beleaguered construction group Stefanutti Stocks.

Finally, Ingham Analytics has singled out three JSE-listed shares that offer a shield from the weak local economy. You can find details in its "Politics-proofing your portfolio this Christmas" report, which is accessible here.

I hope you have a good weekend.

Stephen Gunnion

Managing Editor, InceConnect