1. Big day for your bond: Interest rates could be cut by up to 50 basis points this afternoon.
2. Capitec released its annual results, which reassured the market on Viceroy-related concerns.
3. What do Markus Jooste and Mark Zuckerberg have in common? Both not fans of parliament. Jooste was supposed to appear today in front of SA lawmakers, but believes it will undermine his right to a fair trial. British politicians were “astonished” that Zuckerberg refused a request to give more information about the Cambridge Analytica scandal.
4. Fight! Fight! Fight! Murray & Roberts has recommended that its shareholders reject a buyout bid from a German conglomerate, who is staging a hostile takeover.
5. Standard & Poor’s is refusing to come to SA’s credit rating party. It wants to see much stronger growth from SA before it will de-junk the country.
Four horrifying graphs from the JSE’s construction sector:
It has been a decade of death for SA’s biggest construction and engineering groups. They have lost most of their value following the financial crisis and the slump in commodity prices, and are not showing much signs of recovery:
Aveng - down 98%
Basil Read - down 99%
Group Five - down 85%
Murray & Roberts - down 85%