Busy day for market watchers

The rand, which strengthened 1.5% to R13.02/$ on Tuesday after Bloomberg reported the ANC intended discussing the removal of President Jacob Zuma this weekend, had fallen back to R13.12/$ by 7am on Wednesday morning. The JSE’s banks benefited from the rand’s rally on Tuesday, with Standard Bank gaining 3.63% to R150.62, Nedbank 3.27% to R221.38, FirstRand 2.04% to R50.62 and Barclays Africa Group 1.85% to R146.40. It is a busy day for market watchers. Besides inflation data, which are expected to show average annual consumer price increases fell back under the government’s 6% ceiling in April, numerous JSE-listed companies are scheduled to release results. Mediclinic International released a trading update on April 13, sayings its results for the year to end-March would be released on Wednesday without giving an earnings guidance. On April 28, Mediclinic’s share price jumped 13% on news that the Abu Dhabi government was waiving a 20% co-payment for holders of Thiqa medical insurance...