Zuma TV interview is bad news for rand
The rand was trading at over R19/£ and edging towards R17/€ on Tuesday morning ahead of what is likely to be a stormy day for currencies.
Locally, the rand may suffer as the market digests President Jacob Zuma’s interview with ANN7 on Monday night. Zuma was asked if foreign powers were attempting to kill him because he was perceived to be an "enemy of capital".
Further "pound panic" headlines are likely as UK Prime Minister Theresa May presents her EU Withdrawal Bill to parliament.
The S&P 500 closed relatively flat on Monday, with the average stock market performance hiding a dramatic day in which toy maker Mattel’s share price jumped 20.66% to $17.64 while General Electric’s fell 7.17% to $19.02.
Mattel — whose brands include Barbie and Fisher-Price — is reported to be a takeover target Hasbro whose products include the Disney Princess doll range. Hasbro’s share price rose 5.88% to $96.83.
General Electric disappointed investors by halving its dividend.
On the JSE on Tuesday, Capital Appreciation (Caprec), a software-focused investment holding company, said on October 31 that it expected to report on Tuesday that headline earnings per share (HEPS) for the six months to end-September would grow between 84% and 88%.