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Market Update: South Africa Stocks End Sharply Lower
The FTSE/JSE All Share Index ended 1.8% lower at 67,791 on Thursday, from Wednesday’s three-month high, 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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