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Market Update: South African Stocks Fall from 3-Month High
The FTSE/JSE All Share Index fell towards the 68,000 mark on Thursday, after touching on Wednesday a three-month high of 69,278, as investors remained cautious ahead of US job data due Friday and South Africa’s first-quarter GDP data early next week. Meanwhile, a Markit PMI survey showed Africa’s second-largest economy expanded at a softer pace in May; while the country’s job report showed earlier this week the unemployment rate hit a new record high in the first quarter of the year, amid the ongoing Covid-19 crisis. [/s2If]
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