20°C / 22°C
  • Wed
  • 24°C
  • 10°C
  • Thu
  • 24°C
  • 10°C
  • Fri
  • 25°C
  • 10°C
  • Sat
  • 26°C
  • 9°C
  • Sun
  • 18°C
  • 8°C
  • Mon
  • 20°C
  • 6°C
  • Wed
  • 15°C
  • 8°C
  • Thu
  • 16°C
  • 7°C
  • Fri
  • 15°C
  • 7°C
  • Sat
  • 14°C
  • 9°C
  • Sun
  • 16°C
  • 5°C
  • Mon
  • 16°C
  • 7°C
  • Wed
  • 27°C
  • 13°C
  • Thu
  • 27°C
  • 11°C
  • Fri
  • 28°C
  • 12°C
  • Sat
  • 29°C
  • 13°C
  • Sun
  • 20°C
  • 9°C
  • Mon
  • 22°C
  • 8°C
  • Wed
  • 27°C
  • 10°C
  • Thu
  • 27°C
  • 13°C
  • Fri
  • 28°C
  • 15°C
  • Sat
  • 27°C
  • 7°C
  • Sun
  • 20°C
  • 6°C
  • Mon
  • 23°C
  • 7°C
  • Wed
  • 21°C
  • 15°C
  • Thu
  • 22°C
  • 17°C
  • Fri
  • 21°C
  • 17°C
  • Sat
  • 20°C
  • 15°C
  • Sun
  • 19°C
  • 13°C
  • Mon
  • 23°C
  • 12°C
  • Wed
  • 16°C
  • 9°C
  • Thu
  • 15°C
  • 9°C
  • Fri
  • 16°C
  • 9°C
  • Sat
  • 14°C
  • 8°C
  • Sun
  • 15°C
  • 7°C
  • Mon
  • 16°C
  • 9°C
  • Wed
  • 13°C
  • 5°C
  • Thu
  • 15°C
  • 4°C
  • Fri
  • 13°C
  • 4°C
  • Sat
  • 13°C
  • 4°C
  • Sun
  • 17°C
  • 4°C
  • Mon
  • 17°C
  • 8°C
  • Wed
  • 13°C
  • 8°C
  • Thu
  • 14°C
  • 8°C
  • Fri
  • 13°C
  • 8°C
  • Sat
  • 13°C
  • 8°C
  • Sun
  • 15°C
  • 7°C
  • Mon
  • 16°C
  • 7°C
  • Wed
  • 28°C
  • 13°C
  • Thu
  • 29°C
  • 13°C
  • Fri
  • 29°C
  • 12°C
  • Sat
  • 30°C
  • 12°C
  • Sun
  • 22°C
  • 10°C
  • Mon
  • 23°C
  • 9°C
  • Wed
  • 23°C
  • 8°C
  • Thu
  • 25°C
  • 10°C
  • Fri
  • 23°C
  • 5°C
  • Sat
  • 17°C
  • 2°C
  • Sun
  • 18°C
  • -1°C
  • Mon
  • 21°C
  • 4°C
  • Wed
  • 29°C
  • 10°C
  • Thu
  • 26°C
  • 11°C
  • Fri
  • 27°C
  • 13°C
  • Sat
  • 32°C
  • 11°C
  • Sun
  • 14°C
  • 9°C
  • Mon
  • 24°C
  • 6°C
  • Wed
  • 15°C
  • 9°C
  • Thu
  • 14°C
  • 6°C
  • Fri
  • 16°C
  • 6°C
  • Sat
  • 13°C
  • 5°C
  • Sun
  • 17°C
  • 5°C
  • Mon
  • 15°C
  • 7°C

#RandReport: Rand gains as dollar rally eases, stocks lower

Stocks ended lower, extending the losing streak to the third straight session in line with emerging markets peers as investors fret over Italy’s political crisis.

Picture: Pixabay.com.

JOHANNESBURG - South Africa’s rand bounced back over 1% on Wednesday as the dollar fell from nearly seven-month highs seen on Tuesday.

Stocks fell for another session as emerging market stocks fell to five-month lows.

At 1516 GMT, the rand was up 1.16% to the dollar at 12.5550.

The greenback eased off its recent rally as first-quarter GDP growth data released on Wednesday was at 2.2%, lower than forecast.

The dollar was down 0.50%.

“The rand has been quite resilient against its emerging market peers because our fundamentals are looking a bit better,” said Andre Botha, a currency trader at Treasury One.

Botha said that April trade data being released on Thursday was expected to be upbeat and positive for the rand. The trade balance was in surplus for the previous two months.

The yield for the government bond due 2026 was barely changed, up 1 basis point to 8.540.

Stocks ended lower, extending the losing streak to the third straight session in line with emerging markets peers as investors fret over Italy’s political crisis.

The benchmark JSE Top-40 index fell 0.7% to 49,287 and the broader All-share index was off 0.6% to 55,601.

Among movers, Gold Fields lost 2.4% as the price of bullion faltered.

On the upside, Spar and Nampak gained 2.3% and 2.9%, boosted stronger earnings reports.

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