Rand firms on falling dollar, stocks up

JOHANNESBURG - The rand was set to end the week on a firmer footing on Friday as the US dollar weakened, while signs of economic stabilisation in China boosted demand for riskier assets.

“The rand is on route to securing its second straight week of gains against the dollar despite disappointing domestic economic data weighing on sentiment,” said FXTM research analyst Lukman Otunuga in a note. Investors’ appetite for riskier currencies was boosted on Friday after Chinese data showed exports rebounded last month, helping offset weaker imports, and by reports of another reduction in Germany’s growth forecasts, analysts said.

Consumer staples led the blue-chip index higher, with Africa’s largest supermarket group Shoprite gaining 3.2% to R175.99 and Bid Corporation rising 1.74% to R293.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Rand steady as market waits for risk events to unfoldThe ECB’s policy announcement and an EU summit on Brexit are likely to provide the market with direction on Wednesday
Source: BDliveSA - 🏆 12. / 63 Read more »

Plans are afoot to electrify Bekkersdal: Rand West MMC - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Rand West Member of the Mayoral Committee for Water, Sanitation and Energy, Dumile Sithole, says plans for the electrification of all informal settlements in Bekkersdal, west of Johannesburg, are at an advanced stage. How will they do that when there is no electricity for the rest of the Country? What Game is Eskom playing here? So.... Loadshedding is a Hoax..Right?
Source: SABC News Online - 🏆 32. / 51 Read more »