Events that moved the market in 2019: Trade wars, US-Iran conflict and SA awaits turning tide
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24 Jan 2019Source: Bloomberg NewsUS jobless claims at 49-yr lowUS unemployment benefits fall to the lowest level since 1969.
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15 Feb 2019Source: SACCITrade at lowest point this centuryThe South African Trade Activity Index is at its lowest level since inception of the survey in 2000. The previous lowest level for the Index was 32 in April 2009, just after the great financial crisis.
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26 Feb 2019Source: BusinessLiveTongaat Hulett falls bitterlyTongaat Hulett’s share price plunges to its worst level since 1993, after announcing that headline earnings in the year to March will probably fall by at least 250%.
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5 Mar 2019Source: ReutersSA economy grows by 1.4%South Africa‘s economy expands by 1.4% in the final quarter of 2018, helped by growth in agriculture and manufacturing. This brings the total growth for 2018 to 0.8%.
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13 Mar 2019Source: BloombergSA business confidence drops furtherMore than two thirds of SA businesses surveyed are now dissatisfied with current conditions. Sentiment among retailers and builders fell the most.
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16 Mar 2019Source: BusinessLiveLoad-shedding jumps to next levelTropical cyclone Idai in Mozambique plunges South Africa into stage 4 load-shedding.
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22 Mar 2019Source: BloombergUS yield curve invertsThe Treasury yield curve inverts for the first time since the great financial crisis. A yield curve inversion is widely regarded as a potential sign of an impending recession and rate-cutting cycle.
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25 Mar 2019Source: ForbesNaspers heads for AmsterdamNaspers announces that it will separately list its internet businesses, including Tencent, in Amsterdam. This should unlock value for investors.
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26 Apr 2019Source: Bloomberg NewsUS marches onUS GDP expands at a 3.2% annualised rate, exceeding the forecast average of 2.3%.
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11 May 2019Source: news24.comANC continues to leadThe IEC declares the 2019 SA elections free and fair and the rand strengthens on the outcome: The ANC gains the national victory with a 57.51% majority vote. It also takes all provinces, except the Western Cape, where the DA stays in control.
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17 May 2019Source: NY MagazineStart of the cell warsThe Trump administration blacklists Huawei, accusing the company of aiding Beijing in espionage.
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4 Jun 2019Source: Statistics SASA growth negativeSA's economy shrinks by 3.2% in the first quarter of 2019, the biggest contraction in a decade. Some of the reasons are weak consumer demand, load shedding and recurring falls in mining production.
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10 Jun 2019Source: Business InsiderTongaat Hulett listing suspendedTongaat asks that its listings be suspended because of accounting irregularities. More than 5000 employees receive retrenchment notices.
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18 Jun 2019Source: fin24Steinhoff loss stands at nearly R20bnSteinhoff posts a loss of €1.19bn (more than R19 billion) for the year ended September 2018.
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18 Jun 2019Source: The GuardianFacebook launches LibraFacebook announces a digital currency, Libra, that will allow its users to make financial transactions across the globe. US lawmakers raise privacy concerns.
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24 Jun 2019Source: EuronewsUS ups the ante against IranTrump signs an executive order for additional sanctions against Iran's Supreme Leader Ayatollah Ali Khamenei, Foreign minister Javad Zarif, and eight Revolutionary Guard commanders.
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24 Jun 2019Source: Business DayMultiChoice cuts 2000 jobsMultiChoice, formerly part of Naspers, announces that up to 2194 employees may lose their jobs in a restructuring of its customer service model.
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29 Jun 2019Source: BBCUS, China resume trade talksUS President Donald Trump and China's President Xi Jinping reach an agreement at the G20 summit in Japan to continue trade talks.
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3 Jul 2019Source: ReutersGerman bond yields brush record lowGermany’s 10-year Bund yields are just off a historic low of minus 0.39%.
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15 Jul 2019Source: AFPChina grows at 6.2%China's economy grows by 6.2% in the second quarter, the lowest figure since the early 1990s, and in line with forecasts.
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18 Jul 2019Source: fin24SA rate cutThe SA Reserve Bank cuts the benchmark repo rate by 25 basis points to 6.5%, the first cut since March 2018. The prime interest rate will now be 10.0% p.a.
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9 Oct 2019Source: ReutersSA business confidence improvesThe Sacci monthly business confidence index (BCI) rises to 92.4 in September from a 34-year low of 89.1 in August.
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28 Oct 2019Source: fin24Sasol CEOs quitThe joint CEOs of Sasol resign on completion of an independent review of the company’s disastrous Lake Charles project. The share price lost 44% of its value over the past year.
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29 Oct 2019Source: Statistics SASA unemployment at 11-year highSouth Africa’s unemployment rate stands at 29.1%. The country has 6.7 million people without jobs.
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29 Oct 2019Source: BloombergSA announces plan for EskomEskom’s transmission unit will be hived off while remaining under the control of a state holding company, making it easier for private generators to supply the national grid.
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30 Oct 2019Source: MoneyWebTito talks toughIn his 2019 mini-Budget statement, Minister Mboweni announces that talks have begun to find equity partners for SAA; SA is expected to grow by 0.5% in the current fiscal year; a revenue shortfall of R53bn is expected; and the main budget deficit is expected to widen to 5.9% of GDP. Wage freezes at certain levels of government are introduced.
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1 Nov 2019Source: fin24SA put on negative watchMoody’s downgrades the outlook for its credit rating of the South African government from ‘stable’ to ‘negative’.
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5 Nov 2019Source: ReutersUS stocks hit record highsThe S&P 500, the Nasdaq and the Dow hit record highs, after US officials indicated on 1 Nov that a trade deal with China could be signed during November.
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5 Nov 2019Source: Bloomberg NewsConsumer confidence downThe FNB/BER consumer confidence index falls to -7 in the third quarter from 5 in the previous three-month period. The steep decline mirrors the RMB/BER business confidence index, which sank to a 20-year low of 21 index points, from 28 in the second quarter.
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8 Nov 2019Source: City PressCyril’s investment drive raises R363bnPresident Ramaphosa confirms that government’s 2019 investment summit resulted in R363 billion being committed to South Africa. This is on top of the R300 billion in commitments secured during last year’s drive.
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11 Nov 2019Source: BloombergSAA jobs on the lineSouth African Airways kicks off a restructuring process that could lead to almost a fifth of its staff members losing their jobs. Unions respond with a strike demanding no job losses and an 8% wage increase.
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19 Nov 2019Source: ReutersUS-China tension reignitesThe US Senate approves legislation to protect human rights in Hong Kong, widening the divide between the US and China.
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20 Nov 2019Source: Statistics SACPI at 8-year lowSA consumer price inflation falls to 3.7%, the lowest level since 2011.
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21 Nov 2019Source: fin24Growth outlook for 2019 flatThe South African Reserve Bank keeps the repo rate unchanged at 6.5% and lowers the growth forecast for SA for 2019 to 0.5%.
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3 Dec 2019Source: Statistics SASA economy shrinks againThe SA economy contracts by 0.6% after growing by 3.1% in the second quarter of the year and shrinking by 3.2% in the first quarter.
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9 Dec 2019Source: ReutersPrasa placed under administrationThe Ministry of Transport places state-owned Passenger Rail Agency South Africa (Prasa) under administration and dissolves the interim board.
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9 Dec 2019Source: ReutersEskom shocks nationEskom implements stage 6 load shedding for the first time in history.
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10 Dec 2019Source: MoneywebTongaat loses billionsTongaat Hulett is forced to write down nearly R12bn of equity, most of it originating from land expropriation in Zimbabwe and deferred tax assets not recognised by Zimbabwean law.
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13 Dec 2019Source: BloombergTrade deal boosts US marketsAn interim trade deal between China and the US sends the S&P 500 and Nasdaq to record highs.
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19 Dec 2019Source: fin24.comHawks arrest Eskom execsTwo senior managers at Eskom and two businessmen appear in court on charges of corruption, fraud and money laundering.
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20 Dec 2019Source: BBCMPs back Johnson’s BrexitA majority of 124 MPs back Prime Minister Boris Johnson's plan for the UK to leave the EU on 31 January. The EU (Withdrawal Agreement) Bill also bans an extension of the transition period past 2020.
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