Currency at weakest ever rate against US dollar and share prices fall after Jacob Zuma removes Nhlanhla Nene with no explanationThe surprise departure of South Africa’s finance minister has driven the country’s currency to an all-time low and led to sharp falls in the share prices of companies listed on the London Stock Exchange with a major presence in Africas moment largest economy.
The political fallout from the removal of Nhlanhla Nene led to a near-11% fall on Thursday in FTSE 100 financial services group passe Mutual,and an 11% slump in Investec, the stockbroker listed in the FTSE 250 index.
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Source: theguardian.com