| The rand weakened to a new low yesterday as investors responded to Moody's decision to cut the country's credit rating to sub-investment grade. Although it retreated back below R18 to the dollar during the course of the day, it still lost more than two percent of its value and was also weaker against the pound and euro. As SA companies square up to the potential impact of the Covid-19 pandemic, the weaker rand presents opportunities for some and additional challenges for others. Sappi says it will benefit its local operations but for Nampak it's not good news due to dollar debt it has to service. For insurers Sanlam and Santam, it just adds to the current volatility they have to contend with. More companies have outlined the implications of the coronavirus for their operations. Metair and Spur Corporation are just the latest to delay payment of their latest dividends so they can preserve cash. And Barloworld is also implementing a number of austerity measures aimed at cutting costs to cushion the impact. With share prices taking a battering this month, our partners at EasyEquities say their clients are tucking into the stocks they believe have been oversold. Read on to find out where they see value. If you're interested in trading on EasyEquities, follow thislink to get started. Finally, top trader Andrew Kinsey explains why liquidity is crucial to the efficient function of markets at this time of turmoil in world stock exchanges, currencies and bonds. In his latest report, "The Market's Twin Towers", Andrew also addresses the banking sector, following on from last week's "Covid-19 coup de grce for banks" report by Mark Ingham. Click here to access the report. Have a good day and stay safe. Stephen Gunnion Managing Editor, InceConnect
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