JOHANNESBURG - The rand started the European session on the back foot as the trade-weighted dollar derived support from a solid data print on Thursday, while souring global risk sentiment weighed on emerging market currencies in general according to NKC Research.
At the close of local trade, the rand quoted 0.4 percent weaker at R14.40/$, after trading in range of R14.29/$ - R14.42/$. The rand traded weaker overnight. Expected range today R14.25/$ - R14.55/$.
South African bourse
The JSE All Share (-0.6 percent) ended lower Friday, dragged by large bank (-2.5 percent) and industrial (-3.0 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (-1.5 percent) traded lower. In local news, Aspen (+0.7 percent) shares ended in the black after the pharmaceutical company said the sale of its nutritionals business has been approved by New Zealand regulators. The expected sale is key to the drugmaker’s plans to cut debt and restore confidence.
Brent crude oil
The Brent oil price briefly touched the $73 mark before it dipped. That said, concerns over supply disruptions kept crude on track for a weekly gain. At close of local trade, benchmark Brent crude futures were unchanged at $72.61pb. Crude prices edged higher during Asian trade this morning.
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