The morning, with little to drive global direction, while locally South Africans have to contend load-shedding and focus remains on corruption.
The rand is still rangebound, though President Cyril Ramaphosa appears to be taking a firmer grip on the ANC after the weekend’s national executive committee meeting, Peregrine Treasury Solutions executive director Bianca Botes said in a note. The ANC has announced that officials formally charged with corruption must step aside from their posts.In morning trade the Hang Seng was down 0.55% while Japan’s Nikkei was up 0.34%.The rand was 0.21% firmer at R16.63/$.
Gold was 0.32% weaker at $1,963.03/oz while platinum was down 0.26% to $937.03. Brent crude was 0.26% higher at $45.88 a barrel. Libstar, the owner of Denny mushrooms and Lancewood cheese, is scheduled to release its results for the half year to end-June later. The group said recently that it had faced higher costs due to the Covid-19 pandemic.
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