HomeMarket OverviewSA Market Overview | 20-24 May

SA Market Overview | 20-24 May

21-05-2024
SA Market Overview | 20-24 May

Outline

●     The South African rand traded at approximately R18.12 per USD – its highest level since December last year. This growth has been driven by growing speculation that the African National Congress (ANC) will secure enough votes to prevent the implementation of less market-friendly policies.

●     Gold has hit a new all-time high of R44,457.99 after the death of Iranian president, Ebrahim Raisi, in a helicopter crash.

Overview

●     Steers and Debonairs owner, Famous Brands, sees opportunity in the Middle East to grow its market share after realising they are boycotting some western brands. The group reported there is interest in the region.

●     Vodacom is in discussions with French telecom giant, Orange SA, about a partnership in Africa to explore infrastructure deals that would help keep costs low on the continent.


Disclaimer:

Any opinions, views, analysis or other information provided in this article is provided by BCS Markets SA trading as BROCKSTOCK as general market commentary and should not be viewed as advice according to the FAIS Act of 2002. BCS Markets SA does not warrant the correctness, accuracy, timeliness, reliability or completeness of any information provided by third parties. You must rely upon your judgement in all aspects of your investment decisions and all decisions are made at your own risk. BCS Markets SA and any of its employees shall not be responsible for and will not accept any liability for any direct or indirect loss including without limitation any loss of profit which may arise directly or indirectly from use of the market commentary. The content contained within the article is subject to change at any time without notice. BCS Markets SA is an authorized financial services provider FSP No. 51404. 

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