ANGGOLD: 31,536 +434 (+1.40%)
South Africa's rand firms as risk sentiment revives, stocks down
(Update prices and analysts quotes)
JOHANNESBURG, Sept 7 (Reuters) - The rand firmed on Friday
as data showed South Africa's current account deficit narrowed,
boosting investor sentiment towards the currency amid a broader
recovery in emerging markets.
At 1530 GMT the rand was 1.3 percent firmer at
15.1350 per dollar, off a session high of 15.0575.
"It's a bit of a better day for emerging markets as we see
respite for the Turkish lira on a softer dollar," said ETM
analyst Halen Bothma. "However, it's a cautious environment and
investors are not putting in big bets."
The current account gap narrowed to 3.3 percent of GDP in
the second quarter, sparking significant rand demand despite
Moody's warning that the country's slide into recession in the
second quarter was credit-negative.
Bonds were also stronger, with the yield on the benchmark
government paper due in 2026 down 5 basis points at
On the bourse, the blue chip JSE Top 40 index fell
0.12 percent to 50,833 points as resources stocks took a hit
from the stronger rand. The broader All-share index
fell 0.11 percent to 57,069.
The bullion index closed 1.31 percent weaker.
Gold producer AngloGold was among the biggest
decliners, falling 3.98 percent to 291.40 rand.
(Reporting by Nomvelo Chalumbira and Patricia Aruo; editing by
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