MARKET WRAP: Rand slides to three-week low on renewed lockdown concerns

The rand slid to a three-week low, trading above R15/$ on Tuesday, amid concerns that surging Covid-19 infections around the world will result in a spate of new lockdowns that will put the brakes on a tentative economic recovery. Even so, the JSE rose to a two-year high, buoyed by higher gold stocks, Naspers and Prosus.

The rand was the worst performer against the dollar among its emerging-market peers ahead of a meeting by the National Coronavirus Command Council (NCCC) on Wednesday morning, a week earlier than previously expected…