- Annual inflation fell to 3.7% in October which is the sixth consecutive month of decline.
- The rand strengthened against the US dollar closing at R14.67 (30/11/2019) from R15.03(01/11/2019), due to continued progress in the US-China trade negotiations.
- The Year to Date markets performance:
- The JSE Top 40 index: 5.12%
- Dow Jones: 20.25%
- NASDAQ: 30.60%
- S&P 500: 25.30%
- Eskom appoints a new CEO: Andre de Ruyter’s main task at the power utility will be to implement reforms that will help the embattled state-owned enterprise ensure stability in the county’s power supply. He will also have to address financial management challenges among other issues that beset the power utility.
- The Sarb maintained the repo rate at 6.5% and the mortgage rate at 10%.
- Rating agencies namely S&P and Moody’s have simultaneously changed South Africa’s outlook on long term debt from stable to negative a notch away from junk status.
- Trade tensions between the US and China continue to dominate international markets but have eased in November, which is good news for the global markets.
- Following Britain’s failure to leave the EU bloc, Britain’s Prime Minister Boris Johnson has advised that there will be a general election on December 12 2019.
- Donald Trump’s impeachment inquiry continues to take centre stage in global politics, with no impact on markets yet.
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