Thursday, February 13, 2025
Today's News
Thursday, February 13, 2025
Today's News

South African shares shrug banking crisis, rand slips

South African shares shrug banking crisis, rand slips

South African shares strengthened on Monday despite an international financial situation as financiers hurried right into safe haven source stocks, while the risk-sensitive rand deteriorated.

At 1616 GMT, the rand traded at 18.5250 versus the dollar, 0.65% weaker than its previous close as risk-appetite subsided for arising market money in the middle of the financial crisis.

On the bourse, the resources market (. JRESI) shut 4.41% higher on problems over a worldwide banking situation as investors got gold shares, analysts claimed.

” We’re seeing safety and security in resources,” stated Sasfin equity strategist David Shapiro.

Overall, shares on the Johannesburg Stock Exchange increased, with the leading Top 40 (. JTOPI) closing 2.68% higher while the broader all-share index (. JALSH) wound up 2.4%.

South African markets opened versus a stressful state of mind throughout the country that saw many companies shut as countless militants marched with South Africa’s cities, contacting Head of state Cyril Ramaphosa to resign over the absence of tasks and also electricity. Safety and security pressures safeguarded shopping malls and also streets to stop any physical violence as well as robbery.

Tuesday is a public vacation in South Africa and also markets will certainly remain shut, yet when company returns to on Wednesday, neighborhood financiers will be considering regular monthly inflation figures (ZACPIY= ECI) to be released on Wednesday for clues on the health and wellness of South African economic situation.

A Reuters poll located on Monday that South Africa’s Reserve Financial institution will raise rate of interest for the last time in this cycle by 25 basis points on March 30, in expectancy of slower inflation and also a weak economy because of power interruptions.

The government’s benchmark 2030 bond was stronger with the return down 6 basis indicate 9.975%.

Reporting by Tannur Anders as well as Anait Miridzhanian; Editing by Bernadette Baum, Bhargav Acharya/James Macharia Chege

Last Updated: 21 March 2023

INTERVIEW

Celebrities
In case you missed it

Top picks from The Times, recommended for you

Culture & Life Style
How to Build a Healthy Work-Life Balance in 2025
13 Feb 2025
How to Build a Healthy Work-Life Balance in 2025
In today’s fast-paced world, achieving a healthy work-life balance can seem like an impossible task. With the rise of remote work, flexible schedules, and the constant accessibility of technology, the…
READ MORE
Want Super Soft Skin? Try The Double Moisturizing Trend
Want Super Soft Skin? Try The Double Moisturizing Trend
If you’re on a quest for baby-soft skin, you’ve probably…
READ MORE
How to Style Classic Pieces for a Timeless Look
How to Style Classic Pieces for a Timeless Look
Fashion trends come and go, but classic pieces remain wardrobe…
READ MORE
The Science Behind Natural Beauty Products: What You Need to Know
The Science Behind Natural Beauty Products: What You Need to Know
In recent years, natural beauty products have gained significant popularity,…
READ MORE
The Rise of Athleisure: Why Comfort Meets Style
The Rise of Athleisure: Why Comfort Meets Style
In recent years, the fashion industry has witnessed a remarkable…
READ MORE
Entertainment
The 10 best PlayStation 5 games to play in 2025
The 10 best PlayStation 5 games to play in 2025
As we step into 2025, the PlayStation 5 continues to dominate the gaming world with…
WWE Raw Results, Winners, and Grades
WWE Raw Results, Winners, and Grades
WWE promoted matches to qualify for the Elimination Chamber. Bayley fought Lyra Valkyria, and Logan…
The Rise of Athleisure: Why Comfort Meets Style
The Rise of Athleisure: Why Comfort Meets Style
In recent years, the fashion industry has witnessed a remarkable shift towards clothing that seamlessly…
Grammys 2025: Beyonce Wins Album Of The Year And Kendrick Lamar Gets Song And Record Of The Year Prizes
Grammys 2025: Beyonce Wins Album Of The Year And Kendrick Lamar Gets Song And Record Of The Year Prizes
Beyoncé’s album "Cowboy Carter" won Album of the Year at the 2025 Grammy Awards on…
Sniper Elite: Resistance – Release Date and 10 Important Things You Should Know
Sniper Elite: Resistance – Release Date and 10 Important Things You Should Know
The Sniper Elite series started almost 20 years ago in 2005. The series has sold…
Kevin O’Leary says he is close to making a deal to buy TikTok as the possibility of a ban grows. Here’s what we know
Kevin O’Leary says he is close to making a deal to buy TikTok as the possibility of a ban grows. Here’s what we know
As political and regulatory pressures mount over TikTok’s future in the United States, Canadian businessman…
How Cultural Festivals Around the World Shape Society
How Cultural Festivals Around the World Shape Society
Cultural festivals have long been a vibrant expression of humanity, weaving threads of history, tradition,…
Car Brands Owned by Other Car Brands
Car Brands Owned by Other Car Brands
In the ever-evolving automotive industry, the landscape of car ownership is a complex web of…
How to Maintain Work-Life Balance in a Remote World
How to Maintain Work-Life Balance in a Remote World
The shift to remote work has transformed the traditional office environment, offering flexibility and autonomy…
11 affordable destinations to live abroad without working
11 affordable destinations to live abroad without working
Looking for cheap places to live in 2025? Two new reports from International Living highlight…
Country
USA
USA News
UAE
UAE News
Egypt
Egypt News
UK
UK News
South Africa
South Africa News
India
India News
Qatar
Qatar News
Russia
Russia News
Ukrain
Ukrain News
Iran
Iran News