South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg

South African assets hostage to speculation over finance minister charges

JOHANNESBURG – South African government bonds fell sharply and the rand reached its weakest in more than four weeks against the dollar on Monday, partly weighed down by concerns that the finance minister could be arrested.

* Rand falls to 14.3850 to the greenback, off Friday’s close at 14.3690 and softest since July 27.

* Government bonds yields rise across the curve, 2026 benchmark adds 12 basis points to 9.085 percent, highest in nine weeks.

* Local assets track weaker Asian share markets after Federal Reserve indicates a U.S. interest rate increase remains on the cards for this year.

* South African Reserve Bank deputy governor’s speech at 1200 GMT could give local market further steer.

Related Story:  MTN Floats 5, 10-year Eurobonds, Seeks $1bn to Fund Growth

* Stocks to open a touch softer at 0700 GMT, blue chip futures index down 0.12 percent.  (Reuters)

 

MTN News Alert
DMON
To receive our mobile newspaper on MTN delivered on your phone, text SAWD to 4900 at N50 per week or SAMD to 4900 at N150 per month.
For information on press releases, photos, promotional events and adverts, call or send text to 08173460599 or 08094208271or send email to: info@sundiatapost.com

Leave a Reply

Be the First to Comment!

wpDiscuz
Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate



Recommended by the Editor:
PDP will resolve its internal crisis amicably—BOT chairman

Nasarawa -  Sen.Walid Jibrin, the National Chairman, Peoples Democratic Party (PDP) Board of Trustee (BOT) has assured members and Nigerians...

Close