20°C / 22°C
  • Tue
  • 24°C
  • 9°C
  • Wed
  • 26°C
  • 8°C
  • Thu
  • 30°C
  • 11°C
  • Fri
  • 32°C
  • 12°C
  • Sat
  • 26°C
  • 13°C
  • Sun
  • 27°C
  • 13°C
  • Tue
  • 16°C
  • 10°C
  • Wed
  • 17°C
  • 10°C
  • Thu
  • 17°C
  • 10°C
  • Fri
  • 17°C
  • 9°C
  • Sat
  • 20°C
  • 9°C
  • Sun
  • 20°C
  • 11°C
  • Tue
  • 27°C
  • 13°C
  • Wed
  • 29°C
  • 11°C
  • Thu
  • 32°C
  • 12°C
  • Fri
  • 30°C
  • 16°C
  • Sat
  • 29°C
  • 15°C
  • Sun
  • 30°C
  • 14°C
  • Tue
  • 24°C
  • 7°C
  • Wed
  • 29°C
  • 7°C
  • Thu
  • 32°C
  • 13°C
  • Fri
  • 31°C
  • 11°C
  • Sat
  • 29°C
  • 15°C
  • Sun
  • 31°C
  • 14°C
  • Tue
  • 19°C
  • 15°C
  • Wed
  • 20°C
  • 13°C
  • Thu
  • 22°C
  • 15°C
  • Fri
  • 20°C
  • 16°C
  • Sat
  • 22°C
  • 16°C
  • Sun
  • 25°C
  • 18°C
  • Tue
  • 16°C
  • 11°C
  • Wed
  • 17°C
  • 10°C
  • Thu
  • 17°C
  • 12°C
  • Fri
  • 17°C
  • 11°C
  • Sat
  • 18°C
  • 11°C
  • Sun
  • 18°C
  • 12°C
  • Tue
  • 14°C
  • 6°C
  • Wed
  • 20°C
  • 5°C
  • Thu
  • 16°C
  • 7°C
  • Fri
  • 18°C
  • 6°C
  • Sat
  • 22°C
  • 10°C
  • Sun
  • 24°C
  • 11°C
  • Tue
  • 14°C
  • 9°C
  • Wed
  • 16°C
  • 8°C
  • Thu
  • 15°C
  • 10°C
  • Fri
  • 17°C
  • 9°C
  • Sat
  • 17°C
  • 10°C
  • Sun
  • 19°C
  • 11°C
  • Tue
  • 29°C
  • 13°C
  • Wed
  • 31°C
  • 12°C
  • Thu
  • 34°C
  • 13°C
  • Fri
  • 35°C
  • 15°C
  • Sat
  • 32°C
  • 17°C
  • Sun
  • 31°C
  • 15°C
  • Tue
  • 19°C
  • 6°C
  • Wed
  • 27°C
  • 4°C
  • Thu
  • 27°C
  • 10°C
  • Fri
  • 26°C
  • 7°C
  • Sat
  • 31°C
  • 9°C
  • Sun
  • 32°C
  • 15°C
  • Tue
  • 28°C
  • 11°C
  • Wed
  • 21°C
  • 11°C
  • Thu
  • 31°C
  • 9°C
  • Fri
  • 22°C
  • 13°C
  • Sat
  • 24°C
  • 14°C
  • Sun
  • 30°C
  • 14°C
  • Tue
  • 15°C
  • 9°C
  • Wed
  • 18°C
  • 7°C
  • Thu
  • 16°C
  • 10°C
  • Fri
  • 17°C
  • 9°C
  • Sat
  • 20°C
  • 8°C
  • Sun
  • 18°C
  • 10°C

#RandReport: The rand at 19-month high, Naspers leads stocks higher

The rand traded 0.51% firmer at 12.65 per dollar, a level last seen in early August 2015.

Picture: EWN.

JOHANNESBURG – The rand rose to its strongest level in 19 months on Monday, extending gains to the fourth straight session as the US Federal Reserve's less hawkish-than-expected comments continued to drag the US dollar lower.

The rand traded 0.51% firmer at 12.65 per dollar, a level last seen in early August 2015.

Locally, the focus this week will be on fourth-quarter current account data and monthly consumer inflation, both due out on Wednesday.

"We expect a current account deficit that could come close to 3.2% of GDP. That is very supportive for a strengthening currency," said Rand Merchant Bank economist Isaah Mhlanga.

A Reuters poll of 16 economists expects South Africa's fourth quarter current account deficit to narrow to 3.5% of gross domestic product compared with 4.1% the previous quarter.

On the bourse, stocks ended higher with Naspers topping the gainers' list on the blue-chip index ahead of quarterly results from its Chinese money spinner, Tencent Holdings.

The blue-chip Top-40 index gained 0.44 % to 45,507 and the broader All-share index added 0.4% to 52,753.

Naspers, South Africa's biggest company by market value, rose 3.3% to 2,291.20 rand. Naspers owns about a third of Tencent, which is due to report its fourth quarter results on Wednesday.

In fixed income, government bonds weakened with the yield on 2026 benchmark up 0.6 basis points at 8.456%.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus