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Labour deals battered rand another blow

Johannesburg - The rand fell to a new five-year low of R11.3900 to the dollar on Thursday after the  the Association of Mineworkers and Construction Union (Amcu) rejected a 9% wage offer from leading platinum producers, ensuring a week of industrial action continues.

The rand was at R11.3650 to the dollar at 09:24 GMT, after earlier breaching Wednesday's low of R11.3800.

The yield on the 2015 government bond spiked 38 basis points to 7.38%, its highest since July 2011.

Miners affiliated with Amcu on Thursday rejected the wage offer made by Anglo American Platinum, Impala Platinum and Lonmin.
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Rand - Dollar
18.94
-0.2%
Rand - Pound
23.92
-0.1%
Rand - Euro
20.47
+0.0%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.3%
Platinum
911.60
+1.6%
Palladium
1,012.97
+1.1%
Gold
2,213.47
+0.9%
Silver
24.80
+0.6%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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