RandReport: Rand weakens as risk sentiment wavers
JOHANNESBURG - The rand extended losses against a stronger dollar on Friday, after breaching the 14.00 to the dollar mark in the previous session, as doubts over the fate of a US-China trade deal curbed appetite for risk.
“When looking at the holistic picture, a potential positive outcome from the US/China trade talks could be the last ‘good news’ for emerging markets for a while, as geopolitical tension, declining global GDP, and populism all threaten risk appetite,” said Bianca Botes, an analyst at Peregrine Treasury.
On the bourse, the Johannesburg all-share index rose 0.63% to 56,203 points, while the Top-40 index gained 0.35% to 49,841 points. African Rainbow Minerals rose 1.93% after reporting increasing its interim dividend by 60% and reporting a 13% increase in headline earnings.
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