VIEW: Edge strengthened after weak US inflation rates for consumers

The South African currency was one of the best performing currencies of the EM, along with the Turkish lira and the Russian ruble. Despite disappointing South African mine production figures for July, the outskirts improved in line with the weaker dollar exchange rate after a somewhat weaker than expected US inflation rate for consumers in August. At the end of local trade, the margin was 1.4 percent stronger at R14.74 / $, after trading in the range of R14.62 / $ – R14.97 / $. The edge was slightly weakened at night. Expected range today R14.55 / $ – R14.90 / $.

South African stock exchange

The JSE All Share (+0.4 percent) ended higher yesterday, boosted by earnings in large general retail (+1.5 percent) and industrial (+0.4 percent) shares. In the overall emerging market, the MSCI Emerging Market Index (+ 1.3%) was higher. In local news, Aspen (-14.8 percent) attracted attention after the drug manufacturer agreed to sell its baby food business to Lactalis for R12.9 billion. In the meantime, the share of Naspers increased (+3.3 percent) as the heavier market leaders led the stock market higher.


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