South Africa's rand stumbles as geopolitical tensions weigh

28 Feb, 2019

* At 0640 GMT the rand was 0.22 percent weaker at 13.9650 per dollar compared to a close at 13.9350 overnight in New York.

* Escalating tensions between India and Pakistan after each of the nuclear powers claimed that they shot down each other's fighter jets, and comments from a top U.S. official that it was too early to predict an outcome to China trade talks marred demand for risk assets.

* Bonds were weaker, with the yield on the benchmark paper due in 2026 up 3 basis points at 8.69 percent.

* In equities, miner Impala Platinum (Implats) swung to a first-half profit, boosted by increased output and a weaker rand, while retailer Massmart Holdings Ltd, said its full-year headline earnings fell by 31.7 percent.

Copyright Reuters, 2019
 

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