MARKET WRAP: Rand more than regains recent GDP-related losses
The all share gained 1.42% and the top 40 1.31%, as banks and financials jumped 7.75% and 4.82%, respectively
The rand recovered all of Tuesday’s losses on Wednesday, and then some, as improved SA business confidence added to investor appetite for riskier assets.
The rand gained almost 2%, its biggest one-day rise in more than a week, after falling on Tuesday on data that showed SA’s economic collapse in the second quarter was worse than feared. ..