Markets WRAP: Rand closes at R14.53/$ | Fin24
 
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Markets WRAP: Rand closes at R14.53/$

2019-06-19 09:16

The rand closed at R14.53/$ on Wednesday.

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Last Updated at 04:41
19 Jun 17:24
The rand closed at R14.53/$ on Wednesday. However, Andre Botha, senior currency dealer at TreasuryONE, earlier commented that while sentiment was firmly on the side of emerging markets in the morning, "the bias is for the rand to test lower as we head into the Fed decision this evening". 

19 Jun 13:47

SA's May inflation rate hits target-range midpoint

Bloomberg

South Africa’s annual inflation quickened in May, with the rate reaching the midpoint of the central bank’s target range as higher food and beverage prices contributed to the increase.

Annual consumer-price growth accelerated to 4.5% from a year earlier, compared with 4.4% in April, the Statistics South Africa said Wednesday in a statement on its website. The median estimate of 17 economists in a Bloomberg survey was 4.4%.


19 Jun 10:31

US futures, Europe stocks mark time ahead of Fed 

Adam Haigh and Todd White, Bloomberg

US equity-index futures and European stocks entered a holding pattern on Wednesday and Treasuries were steady before the conclusion of a Federal Reserve meeting where investors anticipate policymakers will signal a readiness to lower rates.

Contracts for the three main US gauges traded little changed while the Stoxx Europe 600 edged lower, with declines in real estate shares outweighing an advance in banks.

Shares rose in Asia following the rally on Wall Street a day earlier, which was boosted when President Donald Trump tweeted he will sit down with Chinese President Xi Jinping at the G-20 summit next week.

Hong Kong’s shares led the region, advancing as much as 2.6%. The yield on 10-year Treasuries held below 2.1%, while Japan’s benchmark yield hit a three-year low. The yen strengthened for a third day.


19 Jun 09:16

Steinhoff announces loss of almost R20bn for 2018

Retailer Steinhoff posted a loss of €1.19bn (R19.35bn at current exchange rates) for the year ended September 2018. 

The Stellenbosch-headquartered conglomerate published its delayed 2018 audited earnings report on Tuesday afternoon after the close of SA markets.


19 Jun 09:16

Trump says he’ll have 'extended' meeting with Xi at G-20

The US and China said their presidents will meet in Japan next week to relaunch trade talks after a month-long stalemate, triggering a rally in financial markets.

President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese counterpart Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka and “our respective teams will begin talks prior to our meeting,” Trump said on Twitter. 


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