GFIELDS: 8,709 +146 (+1.71%)
South African rand weakens amid global negotiations, stocks down
JOHANNESBURG, April 15 (Reuters) - South Africa's rand and
stocks were slightly weaker at the start of a shortened week on
Monday tracking a downbeat tone in major overseas markets while
some investors stayed on the sidelines ahead of next month's
At 1656 GMT the rand was 0.36 percent weaker at
"Our volumes in our local market are not there, but one
would argue that its for other reasons such as the wait for the
8th of May (South African national elections)," said Ryan Woods,
a trader at Independent Securities.
The bond closed relatively flat with yield up 1.5
basis points to 8.470.
On the bourse, gold mining companies featured on the
downside as prices of the yellow metal fell to their lowest
levels in a week.
The benchmark JSE Top-40 Index closed 0.35 percent
lower at 52,141.52, while the broader All-share Index
closed 0.27 percent down at 58,340.16.
“There’s a stronger dollar and weaker commodity prices. The
equity markets are quite weak so in general there’s been a
risk-off feeling,” said Sanlam portfolio manager Nick Kunze.
Gold stocks fell 1.21 percent, with AngloGold
Ashanti shedding 0.78 percent to 180.11 rand while rival Gold
Fields slipped 0.57 percent to 52.40 rand.
(Reporting by Onke Ngcuka and Naledi Mashishi, editing by Ed
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