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Well the Rand just took a dive to 15.08/$ and 17.216 to the Euro and shares down about 1% - been a bitch of a week for shares

jaDEB if u kept LON this comp would be over

I used to and would have made big bucks with this one. Trade after the knee jerk is over and go the opposite direction for 4 hours.

The Treasury was responding to Moody’s announcement late Friday that it was maintaining SouthAfrica‘s investment-grade rating while assigning a negative outlook to it.
http://www.moneyweb.co.za/wp-content/uploads/2016/05/Press-Statement-Moodys-ratings.pdf?c1ab40
Moody’s said that it had now concluded a ratings review it launched on March 8.
“The confirmation of South Africa‘s ratings reflects Moody’s view that the country is likely approaching a turning point after several years of falling growth … and that recent political developments, while disruptive, testify to the underlying strength of South Africa‘s institutions,” Moody’s said.

@ Q, ...

@jaDEB... pathetic, pathetic...loser ... L

Well, several factors. China had poor trade figures over the weekend with imports (and exports) down, plus huge stockpiles of iron ore at their ports. This weighed on all base commodity prices like iron ore, nickel, zinc and copper. As a result, ZA being a commodity exporter, the Rand weakened. Second reason, despite weaker than expected job numbers in the US, components of the jobs market are quite strong - wages are rising. Also 2 FED governors are thinking along the lines of 2 rate increases this year with June for the first back in contention. This also weighed on EM currencies.
Last but not least, Moody's did keep our rating but changed the outlook from stable to negative. Does this answer sit well with you Patrick ?

Yes that makes sense. So basically the news wasn't actually that good from moody's and was totally drowned out by other pretty bad news!