The Nigerian markets are closed for a two-day Muslim holiday, but in South Africa, the ftse-jse Africa all-share index fell as much as 1.7 percent in early trade on Monday.


south africa market
The decline was led mainly by the mining index, down 3.7 percent as shares of mine giants – BHP Billiton, Anglo American and Anglo-gold fall, a Bloomberg report shows.
The South African rand nosedived 0.8 percent to 14.526 on the U.S. Dollar while the yield on benchmark government bond maturing December 2026 climbed 2 basis points to 8.78 percent.
Analysts say the South African markets are reacting to a likely funds rate hike this September by the U.S. Central bank.

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