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Market Standard 15 June 2020
Offshore
/ China's PPI down 3.7% in May and factory output rises less than expected, retail sales continued to contract in May.
/ Fed kept interest rates flat and cautioned they expect conditions to remain tough into 2022. GDP 5% in 2021 and unemployment 5.5% in 2022
o S&P500 dropped -4.8% last week but remains +8.1% this month, o Nasdaq dropped -2.3% last week but remains +6.4% this month, o FTSE 100 dropped -5.9% last week but remains +5.3% this month, o JSE Top 40 Index dropped -1.9% last week but remains +5.8% this month,
/ We’re starting to see the second Covid-19 wave in both the USA and China and this spooked markets. Detroit, Michigan is seeing new all-time case highs
/ Mnuchin says ‘we can’t shut down the economy again’
/ UK economy contracted by 20.4% in April, the largest monthly fall on record
/ Justeat-takeaway buys GrubHub
Local
/ The Rand hit 16.33 overnight on Wednesday but then came under serious pressure at 17.20 on Friday.
/ Solid Multichoice results and first dividend payment as sports starts to resume.
/ Tsogo Sun Gaming results show debt of over R11billion. Casino industry wants to re-open ASAP
/ Solid Sygnia results
/ Sasol Draws Multiple Bids for Stake in U.S. Chemical Site
/ Hyprop update shows good recovery after the hard lockdown of April. Still opens below 100%, but looking better Hyde Park Corner 67% Rosebank Mall 76% Canal Walk 85% The Glen 85% Woodlands Mall 85% Clearwater Mall 88% Capegate 89% Somerset Mall 92% Atterbury Value Mart 97%
Foot count at Hyprop’s malls: March 2020 Down 24% April 2020 Down 71% May 2020 Down 39% June 2020 (seven days) Down 24%
/ JSE Index balancing this Friday, Redefine is exiting both the Top40 and Fini15 to be replaced by Exxaro and Quilter respectively.
====== British Airways is auctioning off art worth millions as pandemic weighs on earnings
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By www.JustOneLap.comOffshore
/ China's PPI down 3.7% in May and factory output rises less than expected, retail sales continued to contract in May.
/ Fed kept interest rates flat and cautioned they expect conditions to remain tough into 2022. GDP 5% in 2021 and unemployment 5.5% in 2022
o S&P500 dropped -4.8% last week but remains +8.1% this month, o Nasdaq dropped -2.3% last week but remains +6.4% this month, o FTSE 100 dropped -5.9% last week but remains +5.3% this month, o JSE Top 40 Index dropped -1.9% last week but remains +5.8% this month,
/ We’re starting to see the second Covid-19 wave in both the USA and China and this spooked markets. Detroit, Michigan is seeing new all-time case highs
/ Mnuchin says ‘we can’t shut down the economy again’
/ UK economy contracted by 20.4% in April, the largest monthly fall on record
/ Justeat-takeaway buys GrubHub
Local
/ The Rand hit 16.33 overnight on Wednesday but then came under serious pressure at 17.20 on Friday.
/ Solid Multichoice results and first dividend payment as sports starts to resume.
/ Tsogo Sun Gaming results show debt of over R11billion. Casino industry wants to re-open ASAP
/ Solid Sygnia results
/ Sasol Draws Multiple Bids for Stake in U.S. Chemical Site
/ Hyprop update shows good recovery after the hard lockdown of April. Still opens below 100%, but looking better Hyde Park Corner 67% Rosebank Mall 76% Canal Walk 85% The Glen 85% Woodlands Mall 85% Clearwater Mall 88% Capegate 89% Somerset Mall 92% Atterbury Value Mart 97%
Foot count at Hyprop’s malls: March 2020 Down 24% April 2020 Down 71% May 2020 Down 39% June 2020 (seven days) Down 24%
/ JSE Index balancing this Friday, Redefine is exiting both the Top40 and Fini15 to be replaced by Exxaro and Quilter respectively.
====== British Airways is auctioning off art worth millions as pandemic weighs on earnings