Rand firms as investors ponder Brexit deal


At 5.23pm, the rand had firmed 0.79% to R19.021/£, shedding some gains after earlier reaching R18.9518. It had strengthened 1.02% to R14.7915/$ and 0.6% to R16.4459/€.  The euro was up 0.42% to $1.1119.

Gold gained 0.19% to $1,492.3/oz while platinum was down 0.11% to $885.02. Brent crude lost 0.1% to $59.05 a barrel.

The Dow was up 0.12% at 27,035.49 points. In Europe, the FTSE added 0.52%, while Germany’s DAX 30 was flat and France’s CAC 40 lost 0.19%.

The benchmark R186 government bond was stronger, with the yield falling three basis points to 8.245%. Bond prices move inversely to bond yields.

Earlier, the Shanghai Composite and Japan’s Nikkei 225 were little changed while Hong Kong’s Hang Seng rose 0.69%

Markets are still awaiting some direction regarding the US-China trade talks. US treasury secretary Steven Mnuchin said officials from the two countries are working on the text of a phase one deal to be signed by presidents of both countries in November, Reuters reported.

The JSE all share fell 0.17% to 55,993.40 points and the top 40 0.28%. Resources lost 1.22% while platinum miners gained 2.17%

BHP dropped 2.01% to R305.93 after the diversified miner said on Thursday that it will reach a final decision on its $17bn Jansen potash project in Canada in early 2021.

Spear climbed 4.65% to R9 after the landlord said on Thursday that its headline earnings per share (HEPS) grew 2.75% to 45.47c in the six months to end-August.

Growthpoint fell 0.83% to R22.66. The property group said on Thursday that it would offer Capital & Regional shareholders a premium of about 100% for their shares as it plans to acquire about 30.3% of that company.

Datatec gained 1.6% to R32.30 after it said on Thursday that its HEPS increased to 2.3 US cents in the six months to end-August, from 0.7 US cents in the comparable period.

– BusinessLIVE


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