MARKET WRAP: Rand gains ahead of national election
Investors are keenly watching for a stable coalition outcome to avoid ideological swings, says analyst
28 May 2024 - 18:41
The rand firmed for the third consecutive session on Tuesday, while the JSE tracked weaker global peers as the US markets resumed trading after a long weekend.
Locally, markets have mostly been in a wait-and-see mode with the national election taking place on Wednesday. The ANC is expected to win the largest share of the vote but it may lose its majority, according to various polls, which predict the party falling below 50%. Opposition parties are putting their hope in the ANC losing its majority, compelling it to form a coalition at the national level...
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