The Rand was all over the place last week, weakening to 13.92 /USD on Wednesday and leading to Anthea having tons to comment on this. CPI Inflation moderated slightly to 4.4% – looking good for the consumer. Anthea also explains how the Current Account deficit widening to 4.8% is much of a surprise to most market watchers and economists. She wraps up with company news around Grindrod Shipping, Imperial, Naspers and General Electric.

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It was a tough week with the economy contracting 2.2% and the Rand hitting 13.38/US$. South Africa has received an invitation to the G7 meetings for the first time in 7 years. What does Anthea make of this? Hear that, as well as her take on Steinhoff getting a “lifeline” from creditors, Cell C seeking a court interdict against ICASA, and the launch of Rain Mobile. She wraps up with also discussing the tech stocks holding the global markets together last week, as the FANGs and BATTs outperform.

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The JSE ended 4.5% lower in May – almost nowhere to hide as the emerging markets risk off trade continues. The Rand hasn’t reacted very well either, and in fact, was lower after the trade balance and PMI manufacturing numbers were released…

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It seems Ramaphoria is well and truly a thing of the past – combined with stronger US dollar and the global emerging markets risk off; our market fell another 1% this week, making the decline this month 3%. Oil hit $80 / bbl this week; something we haven’t seen since 2014.

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Tamzin Nel stands in for Anthea this morning as she reflects on the impact of the dollar slightly coming off its highs towards the end of last week, and what it means for investors if the Fed starts increasing rates. What are the proposed plans for Flipkart after Naspers sold it? Find that out, and so much more here.

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Market update: tough week, but a strong finish on Friday as Naspers led the gains, climbing 4.8% on the day. The rand also off its weaker levels, but still quite weak at 12.50/US$. MTN put out a quarterly update. Dis-Chem released a very disappointing set of results. New listing on the JSE: Libstar…

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Henry Biddlecombe stopped by instead of Anthea to talk about earnings season in the US. We talked about Facebook, Alphabet, Netflix and Tesla, among others. The 10-year bull market is making a lot of nervous investors even more nervous. They’re waiting for signs that it’s over…

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Anthea is back from Ghana and has lots to say about it. The market has been volatile – last month the JSE lost 4.6%, and this month we’re already up >4% (although, nothing like the Cryptocurrency moves this month +75% m-t-d). The Rand is back to pre-Ramaphosa levels at 12.36 vs US$. Oil is above $74/bbl, so where are the Shale producers turning on the taps at $50/bbl and keeping the oil price muted? The Steinhoff AGM was a wet squib, and now trades with a R2 handle.

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Markets had a volatile week because of US/China Trade Wars. Even local data has no clear direction as Business Confidence subsides but PMI data improves. In company news, the team debate the resignation of Mark Lamberti from the Eskom board after the court ruling against him; and the Steinhoff share price falls below its 1998 listing level. Spotify listed on the NYSE, making Daniel Ek one of the richest people in Sweden (not Switzerland, as the NYSE might have you believe!)

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Global stock markets had a testing week, with the largest decline for the S&P 500 since 2016. While several factors drove the decline, fears of a trade war driven by the U.S. was the principal factor. Facebook had a difficult week, down 10% (wiping $50 billion off its market cap) following the Cambridge Analytica scandal.

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