JOHANNESBURG - The rand traded in a tight range during yesterday’s European trading session. Emerging market currencies traded on the back foot as President Donald Trump stoked US-Sino trade war fears and Russia warned that its conflict with Ukraine could escalate. At the close of local trade, the rand quoted 0.1 percent weaker at R13.89/$, after trading in the range of R13.79/$ - R13.95/$. The rand traded little changed overnight. Expected range today R13.70/$ - R14.10/$.
South African bourse
The JSE All Share (-0.7 percent) ended lower yesterday dragged by losses in large mining (-1.5 percent) and industrial (-1.3 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (+0.4 percent) traded higher. In local news, Huge Group’s (-0.6 percent) shares ended lower yesterday, despite the information and communications technology group releasing a trading statement that showed its headline earnings per share would be between 40 percent - 55 percent higher in the in six months ended 31 August 2018.
Brent crude oil
The Brent oil price traded higher yesterday on the back of expectations that oil exporting nations would agree to cut crude supply during next week’s Opec meeting. At the close of local trade, the Brent oil price quoted 0.7 percent higher at $60.71/pb. Crude prices traded little changed during Asian trade this morning.
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