SA Company News:
Liberty climbed (+22.7%) after a take-out offer from Standard Bank.
The Shoprite Group is working to restock and rebuild affected stores. The company said that it would re-open stores for business in these areas as soon as it is safe for both customers and employees.
The DTI has suspended some competition regulations to help essential goods producers get supply chains back in working order.The AA called on motorists to limit all nonessential travel as road transport comes under pressure from unrest and the possibility of fuel shortages.
US markets closed mixed even as reporting season got off to its predictable start, with banks ‘surprising’ on earnings. Of the 26 S&P companies that have reported, 21 have beaten earnings expectations. Asian-Pacific markets are mixed too. Tech shares are outperforming in Hong Kong after reports that China plans to exempt Hong Kong listed tech companies from some cybersecurity regulatory approvals.
Most base metals are higher this morning, precious metals are steady, but oil is still sliding. Uncertainty around the Opec production deal and the effect of virus flareups on global growth led to Brent down 2.6% this week.
The ZAR recouped some recent losses. As investors continue to monitor the violence in Natal & Gauteng related to the incarceration of former President Jacob Zuma. Last trading at R14.37 to the dollar.
Cross Currencies ($)