(Updates rand, bonds, stocks levels)
JOHANNESBURG, Feb 9 (Reuters) - South Africa's rand firmed
on Friday, recouping losses from the previous session as
investors continued to bet on the ruling African National
Congress (ANC) unseating scandal-plagued President Jacob Zuma in
the next few days.
At 1532 GMT, the rand was 0.74 percent firmer at
12.0700 per dollar, having slipped to a three-week trough of
12.2000 overnight. That was just shy of the 12.22 support mark
that analysts say may have triggered some technical selling.
"South Africa has held its own, and that's because of the
expectation that Zuma will ousted," said Peregrine analyst
Bianca Botes. "When it does happen, we'll probably see a big
knee-jerk reaction, but it won't necessarily be sustained below
ANC leader Cyril Ramaphosa pulled out of public events to
focus on "pressing matters" on Friday, fuelling speculation that
he was making a final push to force Zuma to step down.
Ramaphosa has been lobbying for Zuma to resign and has said
he hopes to conclude talks with him over a transition of power
"in coming days ... in the interests of the country".
The rand has been among the best-performing currencies
globally, gaining around 20 percent since mid-November, with
most of those gains achieved after businessman Cyril Ramaphosa
was elected ANC chief in December.
Stocks ended a turbulent week, punctuated by uncertainty
around Zuma's future, with sharp losses.
The benchmark JSE Top-40 index fell 1.3 percent to
49,287 and the broader All-share index fell by the same
margin to 55,902.
Decliners included Investec, down 3.6 percent, Old
Mutual, off 3.5 percent and Mondi, which fell
In fixed income, yield for the benchmark government bond due
in 2026 rose 2 basis points to 8.455 percent.
(Reporting by Mfuneko Toyana and Tiisetso Motsoeneng; Editing
by Kevin Liffey)
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