Rand leads emerging market weakness – falls most since 2008 on ‘Brexit’
The Rand dropped by the most since 2008 against the dollar and fell to a record against the yen as the UK voted to leave the European Union, rocking markets globally.
The Rand dropped by the most since 2008 against the dollar and fell to a record against the yen as the UK voted to leave the European Union, rocking markets globally.
Global markets buckled, as the BBC projected a Brexit victory with most votes counted in Britain’s referendum on membership of the European Union.
The Rand was on the front foot on Thursday, trading below R14.60/$ on better than expected inflation data and as markets price in a “Bremain” vote.
It appears British Prime Minister David Cameron’s Brexit gamble is going horribly pear-shaped, if polls are to be believed, writes Donwald Pressly.
Gold surged to the highest in almost two years as the outlook for low US interest rates and concern that the UK will leave the European Union boosted demand for a haven.
Steinhoff is considering making a takeover offer for Poundland, it said on Wednesday, sending shares in the British discount chain surging.
The pound fell toward an eight-week low as concern the UK will vote to leave the European Union prompted demand for safer assets.
Philip Saunders says ‘Brexit’ polls make the vote too close to call and explains why a Leave vote could be a serious setback for the financial services sector and UK at large.
Some of South Africa’s biggest shopping malls have stepped up security after warnings of terror threats in places such as Johannesburg and Cape Town.
Imperial will use foreign-credit facilities and cash to fund the acquisition of Palletways from UK private equity firm Phoenix Equity Partners.