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MARKET WRAP: Rand slides on second-wave coronavirus fears

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Shares of companies in the hospitality and gaming industry performed best on the JSE as the government plans to allow them to reopen soon

The rand had its worst day in a week on Thursday, in line with other emerging-market currencies, as fears of a second wave of coronavirus infections continues to weigh on riskier assets.

“Expect the rand to remain volatile and highly sensitive to external forces as rising coronavirus cases [in some countries] spark fears of a second wave,” FXMT chief market analyst Hussein Sayed said.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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