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Market Update: South African Stocks End at 3-Week Low
The FTSE/JSE All Share Index finished 1.1% lower at 66,586 on Thursday, its lowest level since May 26th, as miners were dragged lower by the risk-off sentiment after the Federal Reserve indicated it might reduce economic stimulus earlier than previously thought. Domestically, investors continued to evaluate the impact of tighter restrictions aimed at countering soaring Covid-19 infection rates. On the data front, retail sales grew at a record pace in April, although below market estimates, mainly due to a low base effect. [/s2If]
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