South African markets ended sharply weaker on Friday, capping a roller-coaster week for stocks and the rand. The All Share index slid 2.33% to 50294.70 points but still ended higher on the week, during which businessman Donald Trump swept to victory in the US presidential election, sending world markets into a frenzy. "The lesson South African investors need to take from this week is that while local political shenanigans occupy our thoughts, it is often what happens globally that will influence our markets more violently and abruptly," said Caroline Cremen, portfolio manager at Adviceworx, a member of Old Mutual Group. Price action in both the stock and currency markets was sharp and fierce in both directions. Investors had gone to the polls on the assumption that Democrat Hillary Clinton would prevail, which implied the continuation of the status quo. But they were caught wrong-footed in a way that echoed the Brexit vote in June. The dollar has been one of the big beneficiaries of...
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