Events that moved the market Q2 2021
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7 Apr 2021Source: ReutersProsus to sell 2% of TencentProsus plans to sell a 2% holding in Tencent, worth about $15 billion, to institutional investors, lowering its Tencent stake to 28.9%. This could potentially be the biggest block trade on record.
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8 Apr 2021Source: MoneywebSA crypto exchange liquidatedCrypto exchange iCE3 initiates liquidation after suspending trading soon after it discovered account discrepancies. iCE3 was established in 2013 and is one of the oldest exchanges in the country.
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13 April 2021Source: MoneywebCapitec clients hit by CovidCapitec sees net credit impairments rise 75% to R7.36 billion for the year to end February. It also saw a 25% falloff in total loans advanced and disbursements. Net income has dropped 9%.
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13 April 2021Source: BloombergBitcoin hits all-time highBitcoin jumps to an all-time high as the mood in cryptocurrencies turn bullish before Coinbase Global goes public.
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21 April 2021Source: BloombergPalladium at new peakThe price of palladium, used to curb emissions, surpasses the previous record set in February 2020. Prices have climbed more than 17% this year, building on five straight annual gains.
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5 May 2021Source: BloombergSA budget deficit surprisesSA records a shortfall of 11.2% of GDP, on its main budget for the year through March 2021, compared to the estimate for a gap of 12.3% of GDP presented during the Budget speech.
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12 May 2021Source: BBCTesla makes U-turn on BitcoinMusk cites concerns about ‘rapidly increasing use of fossil fuels for Bitcoin mining’ and Tesla suspends vehicle purchases using Bitcoin. Bitcoin mining is consuming 66 times more electricity than in 2015.
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12 May 2021Source: Trading EconomicsUS inflation soars to 4.2%The annual inflation rate in the US soars to 4.2% in April from 2.6% in March and well above market forecasts of 3.6%. It is the highest reading since September 2008.
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14 May 2021Source: BloombergSasol sells Mozambique gas stakeSasol agrees to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa. The deal is part of an accelerated asset-sale program to reduce debt.
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14 May 2021Source: ReutersTFG flags 85% profit dropHurt by Covid-19-led lockdowns across its markets, TFG flags an up to 85% decline in full-year profit.
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17 May 2021Source: ReutersSA launches phase 2 vaccinationsSouth Africa launches phase two of its vaccine rollout with the aim of inoculating five million citizens aged over 60 by the end of June.
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18 May 2021Source: MoneywebHeineken eyes DistellAfter years of speculation of a possible deal between the world’s second largest beer group Heineken and South Africa’s Distell, the two groups announce they’ve entered into discussions.
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20 May 2021Source: National TreasuryRepo rate stays at 3.5%The South African Reserve Bank (SARB) announced the repo rate will stay at 3.5%. The MPC’s vote was unanimous. Nevertheless, the SARB warns of possible rate hikes later this year.
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25 May 2021Source: BloombergEskom sheds debtMinister Gorhan announces that Eskom has reduced its debt by almost a fifth after repaying matured loans and benefiting from a strong exchange rate.
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1 June 2021Source: Statistics SASA unemployment at 32.6%South Africa’s unemployment rate rises to a new record high of 32.6% in the first quarter of 2021. Most of the job losses were in construction.
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4 June 2021Source: CNBCUS jobs coming backThe US unemployment rate fell to 5.8%, slightly better than expected and below April’s 6.1%. Hospitality again led job creation, with 292 000 new positions.
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5 June 2021Source: MoneywebG7 agrees on minimum taxThe G7 agrees on a two-pillar global tax solution. Under Pillar 1 the most profitable multinationals will pay tax in the countries where they operate. Under Pillar 2, the minimum tax rate will be at least 15%.
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8 June 2021Source: Statistics SASA economy in recoverySA GDP grows by 1% (an annualised 4.6%) in the three months through March from the previous quarter. However, GDP contracted 3.2% year-on-year, which means output is still down from a year ago.
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10 June 2021Source: MoneywebSA allows 100MW of own powerIn a surprise move, President Ramaphosa announces that the government will increase the generation threshold for companies to produce their own electricity without a licence to 100MW.
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22 June 2021Source: BER Bureau for Economic ResearchRetailer confidence at 6-year highRetailer confidence leaps to a six-year high of 54 points in the second quarter. That’s up from 37 points in the first quarter.
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22 June 2021Source: Naspers/MoneywebNaspers trading profit up 45%Naspers’ annual results show that company revenue grew by 32% to $29.6 billion. Trading profit increased 45% to $5.6 billion.
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23 June 2021Source: Statistics SAInflation jumps to 5.2%Consumer Price Index (CPI) accelerates to 5.2% in May from 4.4% in April. The biggest driver of the increase in CPI is the price of fuel, which is 37% more expensive than it was a year ago.
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28 June 2021Source: eNCASA re-enters lockdown level 4SA re-enters lockdown level 4 with amended restrictions, effectively closing down alcohol-related industries, hospitality and tourism.
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7 April 2021Source: ReutersProsus to sell 2% of TencentProsus plans to sell a 2% holding in Tencent, worth about $15 billion, to institutional investors, lowering its Tencent stake to 28.9%. This could potentially be the biggest block trade on record.
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8 April 2021Source: MoneywebSA crypto exchange liquidatedCrypto exchange iCE3 initiates liquidation after suspending trading soon after it discovered account discrepancies. iCE3 was established in 2013 and is one of the oldest exchanges in the country.
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13 April 2021Source: MoneywebCapitec clients hit by CovidCapitec sees net credit impairments rise 75% to R7.36 billion for the year to end February. It also saw a 25% falloff in total loans advanced and disbursements. Net income has dropped 9%.
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13 April 2021Source: BloombergBitcoin hits all-time highBitcoin jumps to an alltime high as the mood in cryptocurrencies turn bullish before Coinbase Global goes public.
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21 April 2021Palladium at new peakPalladium at new peakThe price of palladium, used to curb emissions, surpasses the previous record set in February 2020. Prices have climbed more than 17% this year, building on five straight annual gains.
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5 May 2021Source: BloombergSA budget deficit surprisesSA records a shortfall of 11.2% of GDP, on its main budget for the year through March 2021, compared to the estimate for a gap of 12.3% of GDP presented during the Budget speech.
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12 May 2021Source: BBCTesla makes U-turn on BitcoinMusk cites concerns about ‘rapidly increasing use of fossil fuels for Bitcoin mining’ and Tesla suspends vehicle purchases using Bitcoin. Bitcoin mining is consuming 66 times more electricity than in 2015.
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12 May 2021Source: Trading EconomicsUS inflation soars to 4.2%The annual inflation rate in the US soars to 4.2% in April from 2.6% in March and well above market forecasts of 3.6%. It is the highest reading since September 2008.
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14 May 2021Source: BloombergSasol sells Mozambique gas stakeSasol agrees to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa. The deal is part of an accelerated asset-sale program to reduce debt.
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14 May 2021Source: Reuters SourceTFG flags 85% profit dropHurt by Covid-19-led lockdowns across its markets, TFG flags an up to 85% decline in full-year profit.
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17 May 2021Source: ReutersSA launches phase 2 vaccinationsSouth Africa launches phase two of its vaccine rollout with the aim of inoculating five million citizens aged over 60 by the end of June.
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18 May 2021Source: MoneywebHeineken eyes DistellAfter years of speculation of a possible deal between the world’s second largest beer group Heineken and South Africa’s Distell, the two groups announce they’ve entered into discussions.
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20 May 2021Source: National TreasuryRepo rate stays at 3.5%The South African Reserve Bank (SARB) announced the repo rate will stay at 3.5%. The MPC’s vote was unanimous. Nevertheless, the SARB warns of possible rate hikes later this year.
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25 May 2021Source: BloombergEskom sheds debtMinister Gorhan announces that Eskom has reduced its debt by almost a fifth after repaying matured loans and benefiting from a strong exchange rate.
-
1 June 2021Source: Statistics SASA unemployment at 32.6%South Africa’s unemployment rate rises to a new record high of 32.6% in the first quarter of 2021. Most of the job losses were in construction.
-
4 June 2021Source: CNBCUS jobs coming backThe US unemployment rate fell to 5.8%, slightly better than expected and below April’s 6.1%. Hospitality again led job creation, with 292 000 new positions.
-
5 June 2021Source: MoneywebG7 agrees on minimum taxThe G7 agrees on a two-pillar global tax solution. Under Pillar 1 the most profitable multinationals will pay tax in the countries where they operate. Under Pillar 2, the minimum tax rate will be at least 15%.
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8 June 2021Source: Statistics SASA economy in recoverySA GDP grows by 1% (an annualised 4.6%) in the three months through March from the previous quarter. However, GDP contracted 3.2% year-onyear, which means output is still down from a year ago.
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10 June 2021Source: MoneywebSA allows 100MW of own powerIn a surprise move, President Ramaphosa announces that the government will increase the generation threshold for companies to produce their own electricity without a licence to 100MW.
-
22 June 2021Source: BER Bureau for Economic ResearchRetailer confidence at 6-year highRetailer confidence leaps to a six-year high of 54 points in the second quarter. That’s up from 37 points in the first quarter.
-
22 June 2021Source: Naspers/MoneywebNaspers trading profit up 45%Naspers’ annual results show that company revenue grew by 32% to $29.6 billion. Trading profit increased 45% to $5.6 billion.
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23 June 2021Source: Statistics SAInflation jumps to 5.2%Consumer Price Index (CPI) accelerates to 5.2% in May from 4.4% in April, The biggest driver of the increase in CPI is the price of fuel, which is 37% more expensive than it was a year ago.
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28 June 2021Source: eNCASA re-enters lockdown level 4SA re-enters lockdown level 4 with amended restrictions, effectively closing down alcohol-related industries, hospitality and tourism.
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