MARKET WRAP: Bleakest week for rand since February’s blackouts

07 June 2019 - 18:05Despite regaining a little bit of ground late on Friday, the rand recorded its worst week since the country experienced days of load-shedding in February.

By 5.30pm on Friday, the rand had lost 2.56% against the dollar since Monday, its biggest weekly loss since it fell 3.3% in mid-February, when Eskom implemented stage 4 power cuts due to generation shortages and diesel supply constraints. Shortly after the close of the local bourse, the rand had firmed, 0.19% to R14.9674/$, while it had fallen 0.28% to R16.9609/€ and 0.17% to R19.0726/£. The euro was up 0.5% to $1.1331.

Platinum and resource miners led the gains, climbing 3.31% and 2.24%, respectively. General retailers rose 2.2%, industrials 1.76% and banks 1.77%. Naspers provided a boost to the all share, adding 2.51% to R3,459.75.

At least JSE All Share index rallied 1.77% today

Singapore Singapore Latest News, Singapore Singapore Headlines

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

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
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Rand hits R15/$ for the first time in eight monthsThe local bourse ended a tumultuous day little changed, with miners and rand hedges faring well, while retailers and banks felt the pinch
Source: BDliveSA - 🏆 12. / 63 Read more »

EDITORIAL: Rudderless Absa afloat in fiercely competitive marketSA's third-largest bank should have prepared for Maria Ramos’s departure as banks engage in a fee-cutting war
Source: BDliveSA - 🏆 12. / 63 Read more »

Omnia chair Rod Humphris’s sudden exit ‘breaks trust with market’Humphris has been chair for two years
Source: BDliveSA - 🏆 12. / 63 Read more »

Risks remain in struggling listed property marketThe three-year returns for the majority of funds in the South Africa real estate general category are currently negative.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

EDITORIAL: Rudderless Absa afloat in fiercely competitive marketSA's third-largest bank should have prepared for Maria Ramos’s departure as banks engage in a fee-cutting war who wrote this article? I'm interested to know how the two banks mentioned are literally paying the man on the street to bank with them.
Source: BDliveSA - 🏆 12. / 63 Read more »