News Formal

MARKET WRAP: Rand hits R15/$ for the first time in eight months

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

The local bourse ended a tumultuous day little changed, with miners and rand hedges faring well, while retailers and banks felt the pinch

The JSE closed flat on Thursday, as the rand hit R15/$ for the first time in eight months, putting pressure on banks but benefiting local miners.

Contradictory statements regarding the Bank’s mandate have dented confidence towards SA, analysts say, even as investors await announcements regarding Eskom’s finances, as well as other policy changes from the new cabinet. The euro pushed higher on Thursday, while gold miners gave back earlier gains, ending lower. Miners generally benefit from a weaker rand, as this makes their output — sold in dollars — more valuable in rand, while a weaker rand implies higher inflation — to the detriment of banks and retailers.

Despite expectations of a dovish ECB statement, revisions to the growth and inflation projections were not all as negative as some would have assumed, based on recent inflation data and growing global risk, Oanda analyst Craig Erlam said.TFG gave up 1.98% to R167.97 and Woolworths 1.08% to R45.07.UK industrial landlord Stenprop fell 1.89% to R20.80. It said earlier that net rental income rose to £33.9m in the year to end-March from £32.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 12. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

MARKET WRAP: Rand hedges support JSE after shock GDP reportThe rand slipped as much as 2% after SA’s first-quarter GDP numbers came in much worse than expected, with rand hedges and miners faring well
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

MARKET WRAP: JSE closes higher despite rand slumpThe local currency is under pressure from dismal economic data, as well as political risk around the role of the Reserve Bank
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

Standard Bank’s SimplyBlu takes e-commerce to business banking spaceThe bank has launched an all-inclusive online store hosting and digital payment package to garner market share in the SME banking segment
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

Standard Bank’s SimplyBlu takes e-commerce to business banking spaceThe bank has launched an all-inclusive online store hosting and digital payment package to garner market share in the SME banking segment
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »