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20 Mar 2015

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Eskom casts shadow as rand steadies

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Johannesburg - The rand steadied on Friday but remained vulnerable after falling sharply the day before when Standard & Poor's downgraded the power utility Eskom to junk, underlining the fragile state of the economy.

The currency weakened more than 2% to R12.3535/$ on Thursday after S&P cut Eskom's long-term ratings to 'BB+' from 'BBB-' and national scale ratings to 'zaA/zaA-2' from 'zaAA-/zaA-1, below investment grade.

READ: S&P downgrades Eskom to junk

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Currencies Commodities Jse Indexes

Rand - Dollar

18.39

-0.1%

Rand - Pound

23.15

-0.4%

Rand - Euro

19.89

-0.4%

Rand - Aus dollar

12.17

-0.3%

Rand - Yen

0.12

+0.1%

Platinum

1,035.46

+3.5%

Palladium

979.26

+1.6%

Gold

2,357.35

+0.9%

Silver

28.55

+1.2%

Brent Crude

83.36

+0.7%

Top 40

72,372

-0.1%

All Share

78,633

-0.1%

Resource 10

62,434

-0.6%

Industrial 25

110,498

+1.1%

Financial 15

16,818

-1.2%

All JSE data delayed by at least 15 minutes

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