JOHANNESBURG - The rand was little changed against the dollar during European trade yesterday according to data from NKC Research.
The South African currency was initially supported by continued dollar weakness and somewhat upbeat South African mining production figures for July. However, the rand pared the gains in late trade as the greenback bounced back. At the close of domestic trade, the rand quoted 0.1 percent weaker at R15.15/$, after trading in the range of R15.01/$ - R15.22/$. The rand traded slightly stronger overnight. Expected range today R15.00/$ - R15.30/$.
South African bourse
The JSE All Share (-1 percent), once again ended in the red yesterday dragged by losses in large technology (-3.4 percent) and consumer goods (-2.2 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (-0.8 percent) traded lower. In local news, Naspers (-0.9 percent) ended almost a percentage lower, after Tencent showed renewed weakness amid unsettled Asian markets.
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