The rand weakened for the third consecutive session on Thursday and the JSE bucked firmer global markets as warnings of intensifying power cuts weighed on sentiment.
The local currency touched an intraday low of R19.48/$ as the outlook for SA remains gloomy, with the possibility of stage 8 load-shedding making headlines. The dollar, meanwhile, is at its strongest level in six weeks. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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MARKET WRAP: Rand weaker with focus on US debt-ceiling talksTelkom’s share price plunges as much as 16%, leading JSE losses, as the group expects profit to plunge at least 85%
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