A man holds new South African banknotes at the value of ten, twenty, fifty, one hundred and two hundred South African Rand depicting former South African president Nelson Mandela at The South African Reserve Bank (SARB) on July 13, 2018 in Pretoria, South Africa. The South African Reserve Bank in celebration of the centenary of Mandela's birth launched its first commemorative banknote series. The larger than normal notes, namely the R10, R20, R50, R100 and R200, depict Mandela's historical journey from his birthplace to his last days. / AFP PHOTO / Phill Magakoe

SA rand firms

The rand was slightly firmer early yesterday, as investors awaited a speech on trade by US President Donald Trump amid his country’s long-running tariff war with China.

At 0728 GMT, the rand traded at R14,8520 versus the dollar, around 0,2 percent stronger than its previous close.

Government bonds were also a shade stronger, with the yield on the 2026 bond down 0,5 basis points at 8,49 percent.

On the Johannesburg Stock Exchange, the All-share index was 0,6 percent higher.

Telkom SA shares were up 0,3 percent after the firm said half-year profit slumped by 36 percent. It had flagged to investors that profit could drop up to 40 percent.

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