
South African Stocks Drop, Oil Drops 2% on Demand Concerns, South African Rand Weakens, European Equities Extend Losses on Friday.
South African Stocks DropThe FTSE/JSE All Share Index in South Africa fell 0.4% to around 63,912 on Friday, as investors paused for breath after a massive rally driven by hopes of additional fiscal stimulus in the US. At the same time, renewed concerns over increased restrictions and escalating coronavirus infections weighed on market sentiment.
Oil Drops 2% on Demand ConcernsOil was down almost 2% on Friday, retreating further from 11-month highs hit in the previous week, with the WTI trading around $52 a barrel and Brent about $55 a barrel amid mounting fears over COVID-19 social restrictions, particularly in China, the world’s biggest oil importer. A new wave of coronavirus infections in China led to lockdowns in the Hebei province and authorities are asking people to stay at home d...