WATCH: Rand strengthens after poor performance last week
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JOHANNESBURG – The rand traded firmer against the US dollar during Friday day’s European trading session according to NKC Research.
The South African currency caught its breath, following a dreadful performance last week. A sharp fall by the greenback late in the day paved the way for the rand to recover some of its earlier losses. At close of local trade, the rand quoted 0.3 percent weaker at R14.11/$, after trading in a range of R14.05/$ – R14.20/$. The rand traded slightly stronger this morning. Expected range today R13.90/$ – R14.20/$.
South African bourse
The JSE All Share (+0.2 percent) ended higher on Friday led by gains in large technology (+2.7 percent) and mining (+1.2 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (-0.8 percent) traded lower. In local news, Gold Fields (-0.2 percent) reported on Friday that profit for the year ended 31 December 2018 slumped by 73 percent, due to a decline in bullion production at the mining house’s South Deep operations
Brent crude oil
The Brent oil price continued to edge higher on Friday, after a mechanical disruption forced Saudi Aramco to shut part of its Safaniyah offshore operations. At close of local trade, the Brent oil price quoted 1.1 percent higher at $65.53/pb. Crude prices were broadly unchanged during Asian trade this morning.
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Source: iol.co.za
