News Formal

Rand firms, stocks fall as vote counting is 25% of the way

  • 📰 City_Press
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The rand firmed in early trade on Thursday, a day after an election for a new parliament and provincial legislatures, while stocks fell with Steinhoff the biggest loser on the all-share index.

The election was seen as the toughest test yet for the ruling ANC 25 years after the party swept to power at the end of white minority rule.

“It’s too early to tell how the domestic market has interpreted the initial results,” RMB analyst Nema Ramkhelawan-Bhana said. On the stock market, the Top-40 index was down 1.5% while the broader all-share fell 1.4% in early trade.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

You call this the “rand firming”..? what do you consider “it weakening”?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks futures tumble on Trump trade threat on ChinaAbout 25 minutes into trading, the Dow Jones Industrial Average stood at 26,182.21, down 1.2%.
Source: ewnupdates - 🏆 30. / 53 Read more »

Rand firms against greenback, stocks riseThe dollar weakened as traders focused on weaker aspects of the April US payrolls report.
Source: ewnupdates - 🏆 30. / 53 Read more »