The rand fell to its worst level in three weeks on Friday, breaking above R17/$, as a rise in Covid-19 infections in a number of countries across the globe threatens economic recovery.
The effects of the Covid-19 pandemic have been evident in recent economic data, with US GDP for the second quarter dropping the most in several decades, data showed on Thursday; while numbers released on Friday showed that Spain’s economy shrank the most so far in Europe.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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MARKET WRAP: Rand drops to three-week low on global economic recovery worriesThe JSE also dropped, in line with other global equities, as the US posted its steepest contraction in 73 years
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MARKET WRAP: Gains by Sasol and banks boost the JSEStandard Bank led gains in its sector, up the most in three weeks, despite announcing that its interim profits in the six months to end-June could halve
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Market data — July 29 2020Market data including bonds and fuel prices
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Huawei trumps Samsung for first time in global smartphone marketDespite the US trade restrictions, .Huawei has overthrown SamsungMobileUS and Apple to become the leader in smartphone shipments globally in the second quarter of 2020. TechIol
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