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ANC NEC Wants Zuma Gone
13 February 2018 | SA Views | Ian Stiglingh
 


World News

Global markets recovered from last week’s sell-off with Asian, UK and US markets posting more than 1% increases. Energy companies provided a boost for Wall Street yesterday in what was a second consecutive session of gains, indicating that the storm has passed over. Risk assets are performing well and commodities are getting a boost.

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South African News

SA markets gained yesterday helped by domestic companies, especially in the financial sector, following reports that President Zuma agreed to step down. The news flow changed somewhat last night and it now looks like President Zuma is refusing to adhere to the NEC’s request to step down and the next step will be to recall the president. A media briefing from the ANC later today should set the record straight amid many fake reports.

Company News

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RCL Foods [RCL] has released a trading statement which says that headline earnings are expected to increase between 46% and 66% compared to the previous period.

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credit: Graph Provided by Sharenet Advanced Online Charts

Trade RCL From 0.3%

The Day Ahead

The rand is biased for further gains today, receiving a boost from global risk-on trading today. Also expect a positive reaction if President Zuma is removed from office, which could materialise today. The ANC NEC will hold a press briefing at 12pm, which will provide an update on the situation. The data calendar also has UK inflation due to be released.

Key Results Out Today

SA Unemployment

UK CPI

Quote of the day

"Any woman who understands the problems of running a home will be nearer to understand the problems of running a country." - Margaret Thatcher, former UK Prime Minister

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Ian

Ian Stiglingh
Quantitative Investment Analyst

Ian Stiglingh is a full time quantitative analyst, responsible for research of equities across all industries. Ian completed his degree in Mathematical Science in 2013 and his Honours degree in Financial Risk Management in 2014, both at the University of Stellenbosch. During his studies, Ian worked as an intern at Old Mutual Actuaries & Consultants as well as J.P. Morgan in Johannesburg, and is currently a CFA candidate
 


Disclaimer:
The information contained in this article is for informational purposes only and must not be regarded as a prospectus for any security, financial product or transaction. It is neither to be construed as financial advice nor to be regarded as a definitive analysis of any financial issue. Investors should consider this research/article as only a single factor in making their investment decision. We recommend you consult a financial planner/advisor to take into account your particular investment objectives, financial situation and individual needs.

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