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Market Update: South African Stocks End Near 1-Week Low
The FTSE/JSE All Share Index finished near the flatline at 66,077 on Tuesday, close to its lowest level since May 19th, as prospects of a solid global economic recovery and easing inflation fears were outweighed by concerns over possible tighter domestic lockdown restrictions. South African health officials have been calling for the introduction of stricter measures to curb rising Covid-19 cases and to mitigate the impact of a third wave of infections. Meantime, there were reports that the South African government is considering level 2 lockdown which would include further restrictions around large social gatherings as well as a longer evening curfew. In addition, power utility Eskom said there was a high probability it would have to implement nationwide electricity cuts on Tuesday evening owing to breakdowns at a number of its generation units. [/s2If]
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