Today’s business update – and how much load shedding you can expect next month
From Business Insider South Africa:
1. The rand remains below R17/$ this morning amid a strong emerging market rally across the world. Investors are betting that economies are recovering following the coronavirus-related knock. The latest US jobs data surprised on the upside, providing a boost to Wall Street – which could further fuel this week’s monster rally on the JSE. Yesterday, large property companies like Redefine and Hammerson saw their share prices jump by more than 20%.
2. Moneyweb reports that the JSE is examining trading in Capitec shares by two directors - Michiel le Roux and Chris Otto - just days before the company issued a profit warning.
3. Eskom says it may miss the deadline to split into three separate units by 2022 due to legal processes, Reuters reports.
4. Anglo American Platinum has once again temporarily shut down part of its Rustenburg processing plant, less than a month after it was brought back to service after undergoing repairs.
5. The Public Investment Corporation now owns more than 15% of Woolworths, the company confirmed this morning.
Chart of the day:
Eskom's energy availability factor (EAF) for the 2020 year to date is 64.3%, down from 65.9% for the same period in 2019, and 72.4% for the same period in 2018, reports expert Chris Yelland.
Tweet of the day:
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Also from Business Insider South Africa:
- 6 years after Ebola, West African nations are bracing for a coronavirus spike
- All the countries offering incentives to tourists post-coronavirus
- Thousands around the world condemn racism and demand justice at global Black Lives Matter protests
- The Trump administration decided to put Covid-19 on the back burner when it mattered most
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