Amplats shines; Denel can’t pay staff; Zimbabwe currency anger; Gold keeps running; Brexit will nail Ireland
BizNews — On the JSE, mining stocks were the big movers upwards, with Angloplat, Implats and Sibanye all gaining about 5%. Gold prices surged to a five-year high on Tuesday, extending gains for a sixth straight session, on the back of expectations of monetary easing by the U.S. Federal Reserve and a subdued dollar. South Africa’s state-owned arms manufacturer Denel will not be able to pay its staff full salaries this month. Mass protests loom in Harare, where the government has banned the use of foreign currencies. Zimbabweans have been trading in currencies on a black market to survive in the dysfunctional economy. Ireland has warned that it will run a budget deficit of up to 1.5% if the UK exits the European Union (EU) with a "no-deal Brexit Late on Tuesday, the Rand was trading at R14.33 to the dollar, R18.19 to the British pound and R16.30 to the Euro.