SA Company News:
Remgro’s R3.7bn bet on fibre.
The investment company will pour R3.7bn into a telecoms infrastructure firm to take advantage of soaring demand for fibre.
Cape Town based – Biovac becomes the first company in Africa to manufacture mRNA Covid-19 vaccines in a deal Ramaphosa says will contribute to the continent’s health security.
Inflation’s slowdown to 4.9% good news for interest rates.
The SARB is expected to leave rates unchanged.
South Africa’s construction industry may receive a short term boost from the rebuilding of damaged and destroyed infrastructure, buildings and structures in last week’s unrest and looting but the longer term outlook for the sector is more uncertain.
Reporting season in both Europe and the US propelled markets higher on Wednesday, and positive sentiment followed through to Asian-Pacific markets.
The dollar was up on Thursday morning in Asia but climbed down from multi-month highs, as strong earnings boosted global stocks and increased investor risk appetite.
Gold down, near one-week low over strengthening dollar, increasing risk appetite
Gold at $1800.
Brent at $72 rose 4% despite unexpected spike in inventories reversing some of Mondays 7% drop.
The ZAR recovered currently trading R14.53 after falling to intraday low of R14.71,
while EUR/USD traded largely unchanged at 1.1793.
Bitcoin hovers around $32 000 after boost from Musk, Ark’s Wood.
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