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South Africa's stock benchmark posted its biggest gain of the year, and the rand and government bonds rallied after the African National Congress agreed to a government of national unity. The rally followed the re-election of Cyril Ramaphosa as president, ending the longest daily streak of equity outflows in three years.
A firmer rand lowers the local cost of dollar-priced feed imports, a small factor for South African buyers. Global feed prices are not meaningfully affected.
bloomberg.comKhuleko SiweleJun 18, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
