South Africa’s rand firmer, stocks set to open flat

Comments (0) Latest Updates from Reuters


JOHANNESBURG (Reuters) – South Africa’s rand firmed against the dollar in early trade on Wednesday as traders awaited the final shareholder approval of the ABI-SABMiller deal which could boost demand for the local currency.

* At 0645 GMT, the rand trades at 13.4100 per dollar, 0.46percent firmer from its New York close on Tuesday. * SABMiller shareholder vote on AB InBev’s takeoverWednesday. SABMiller shares trade on London & Johannesburg stockexchanges. * Blue chip futures index up 0.08 percent, indicating JSEsecurities exchange opening flat at 0700 GMT. * Yield for the benchmark government bond due in 2026 adds0.5 basis points to 8.62 percent.


(Reporting by Olivia Kumwenda-Mtambo)


Comments are closed.