News Formal

South African stocks lose close to 2% as emerging markets rally dissipates

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

JOHANNESBURG - South Africa’s stock market fell almost 2% on Wednesday, as the disappearance of investor optimism that had boosted emerging markets combined with a drop in business confidence to a sev

en-month low.

Emerging market stocks and currencies around the world retreated on Wednesday, marking the end of a two-day rally driven by hopes that the coronavirus was peaking in its European and US epicentres. “The positive sentiment that prevailed in markets for most of yesterday dissipated late in New York. The slowing rate of spread of the coronavirus was tempered by the rising number of deaths which turned markets cautious,” said Andre Botha, a senior dealer at TreasuryONE.

Stocks that tend to suffer when economic sentiment turns negative were among those leading the blue-chip index lower, such as financial services firms.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

This is not essential?

South Africa South Africa Latest News, South Africa South Africa Headlines

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

COVID-19 Frontline Workers: Q&A with a South African doctor - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.With South Africa under lockdown aiming at slowing down the transmission of COVID-19, thousands of health workers are in the frontline. SABC News is profiling one such worker - Dr Gontse Gabanakgosi. Take me through the treatment procedure to all the recovering patients. for those who might suspect that they might be exposed to this virus?
Source: SABC News Online - 🏆 32. / 51 Read more »