South African markets closed in the red yesterday, after the South African Reserve Bank kept its repo rate unchanged but warned about sticky inflation being a barrier for rate cuts.
Retailer, Woolworths Holdings shed 7.2%, after the company issued dismal trading update indicating a drop in annual earnings. Peers, the Foschini Group, Pepkor Holdings, Pick ‘n Pay Stores and Mr Price Group declined 6.9%, 6.4%, 5.2% and 4.3%, respectively.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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