Markets were jittery on Tuesday morning following a bomb blast in Manchester. The likelihood of Brazil’s credit rating sliding further into junk and the release of the minutes of the US Federal Reserve’s most recent monetary policy committee meeting added to investors’ jitters. The minutes are due to be released at 2.55pm local time. The rand may fall again with the Brazilian real after S&P Global Ratings placed Brazil on "watch status" on Monday, meaning its sovereign credit rating may be cut to BB- within the next three months, placing the country three notches into junk territory. The Brazilian stock exchange’s Ibovespa index continued its slide on Monday, losing a further 1.54% after its 8.8% rout last Thursday on the country’s latest corruption scandal. The share price of Brazil’s meat packing company JBS, the company accused of bribing the incumbent president and two predecessors, plunged 31% on Monday. The JSE managed to escape its Brazilian counterpart’s woes on Monday, with...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.