MARKET WRAP: Local markets subdued as investors await budget

The rand and the JSE were little changed on Monday with analysts expecting the rand to weaken as investors await finance minister Tito Mboweni’s supplementary budget.

Mboweni is expected to announce further measures to curb the economic effect of Covid-19, as well as adjustments to the existing budget, before parliament on Wednesday.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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