Events that moved the market l Q3 2020
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1 Jul 2020
Source: Reuters
Airbus and Boeing cut staff
Following a 40% decrease in its jet production, Airbus is cutting 15 000 jobs across Europe. Boeing is cutting over 12 000 US jobs.
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3 Jul 2020
Source: Moneyweb
Construction at record low
The Afrimat Construction Index plunges below 100 for the first time since the index started – to 97 in the first quarter of 2020. This does not yet include the impact of the lockdown.
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7 Jul 2020
Source: FNB and Bureau of Economic Research
Consumer confidence at 35-year low
SA's consumer confidence index drops from -9 in the first quarter to -33 during the second quarter of 2020.
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7 Jul 2020
Source: Bloomberg News
Amazon tops $3000 a share
Amazon.com shares reach $3 000 for the first time after an extended rally.
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9 Jul 2020
Source: Reuters
Manufacturing halves
South Africa’s manufacturing output falls 49.4% year-on-year in April during lockdown.
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15 Jul 2020
Source: Statistics SA
CPI drops to 2.1%
Growth in SA CPI prices falls to 2.1% year-on-year, its lowest level in more than 15 years as the cost of fuel declines and spending slows in lockdown.
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21 Jul 2020
Source: Bloomberg
Several companies cut dividends
Nearly a quarter of all companies in the MSCI Asia Pacific index have scrapped or cut dividends in 2020. About half of the Stoxx Europe 600 Index’s members did the same.
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21 Jul 2020
Source: Bloomberg News
EU agrees on more stimulus
EU leaders agree on a stimulus package worth 750 billion euros to pull their economies out of the 2020 recession.
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22 Jul 2020
Source: Reuters
SA retail sales plummet
South Africa’s retail sales plunge by a record 50.4 in May.
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23 Jul 2020
Source: fin24
SARB cuts by 25bps
The South African Reserve Bank announces another 25-basis points cut in the repo rate. This brings the prime commercial lending rate to 7%.
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27 Jul 2020
Source: Bloomberg
Gold hits new record
A weaker dollar pushes the gold price past the previous high set in 2011.
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27 Jul 2020
Source: Moneyweb
IMF loan to SA
The IMF approves South Africa’s rapid financing instrument (RFI) of $4.3bn (about R70bn), to meet financing needs arising from the Covid-19 pandemic.
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30 Jul 2020
Source: Bloomberg News
US economy worst since 1940s
US gross domestic product shrinks by 32.9% annualised in the second quarter from the first, the most in quarterly records dating back to 1947.
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30 Jul 2020
Source: AFP
Shell loses $18bn
Royal Dutch Shell posts a net loss of $18.1 billion for the second quarter, due to massive asset write-downs, and warns that job cuts are on the way.
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30 Jul 2020
Source: fin24
Sappi reports $73m loss
Shares in paper manufacturer Sappi plunge almost 13% after reporting a quarterly loss on the back of the Covid-19 pandemic and falling demand for paper.
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31 Jul 2020
Source: Bloomberg
Apple announces stock split
Apple announces a 4-for-1 stock split after its shares surged more than 80% in the past year. Its previous split was in 2014.
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31 Jul 2020
Source: Bloomberg
Alphabet’s revenue down
Ad sales, which make up the bulk of sales at the Google parent, are down 8.1% from the same period last year. This is the first-ever decline.
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31 Jul 2020
Source: Bloomberg
Euro area enters recession
The euro area contracts by 12.1 in the second quarter, while French and Italian output dropped by double digits.
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31 Jul 2020
Source: Bloomberg
SA tax loss at R47 billion
The lockdown leads to an under-recovery of R82 billion for the fiscal year to 15 July.
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3 Aug 2020
Source: Business Insider US
Microsoft in talks with TikTok
Microsoft adds 5% to its share price in one day after confirming that it’s continuing talks to buy popular social media platform TikTok in the US.
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3 Aug 2020
Source: Reuters
SAB cancels R5 billion investment
South African Breweries cancels R5 billion of planned investments over revenue losses suffered during the ban on alcohol sales.
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5 Aug 2020
Source: fin24
Liberty reports R2.2 billion loss
Liberty reports an interim headline loss of R2.2 billion as it prepares for more Covid-19 death claims. Death and disability payments increased by 5.1%
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6 Aug 2020
Source: Reuters
Glencore cancels dividends
Glencore scraps its dividend to lower debt as the Covid-19 pandemic forced it to book a $3.2 billion impairment charge.
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6 Aug 2020
Source: Bloomberg
The lira hits record low
Turkey’s lira tumbles to its lowest level against the dollar on concerns about the level of Turkey’s reserves and its aggressive interest rate cuts.
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6 Aug 2020
Source: Reuters
Toyota profit annihilated
Toyota Motor Corp posts a 98% plunge in its first-quarter operating profit as the pandemic has halved its global sales.
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6 Aug 2020
Source: Moneyweb
Sanral to deploy R30 billion
South African National Roads Agency (Sanral) announces that it is ready to implement R30 billion worth of construction projects.
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7 Aug 2020
Source: Bloomberg
US bans WeChat
The move to ban US residents from doing business with Tencent’s WeChat app erases $46 billion from Tencent’s market value. The US president’s executive order, which also applies to ByteDance’s TikTok, fuels concern that the deteriorating US-China relationship will weigh on companies, economies and markets.
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11 Aug 2020
Source: fin24
Sasol writes down R112 billion
Petrochemicals group Sasol announces about R112 billion in impairment charges – more than its market capitalisation of R 94.9 billion.
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11 Aug 2020
Source: Reuters
UK job losses at 10-year high
The number of people in work in Britain falls by 220 000 in the three months to June, the most since 2009.
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12 Aug 2020
Source: fin24
UK economy shrinks by 20.4%
The UK economy posts a 20.4% contraction in the second quarter, a record slump, pushing Britain into its first recession since 2009.
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13 Aug 2020
Source: Bloomberg
TenCent posts good results
Tencent reports a profit that beats the highest analyst estimate. Sales rose 29% and net income increased to 33.1 billion yuan in the three months to June.
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17 Aug 2020
Source: Reuters
Japan GDP growth worst in 40 years
The world’s third-largest economy shrinks by an annualised 27.8% in April-June, the biggest decline since comparable data became available in 1980.
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19 Aug 2020
Source: Bloomberg
Apple surpasses $2 trillion
Apple’s market value pushes past $2 trillion, the first time a US company has surpassed this level.
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20 Aug 2020
Source: Reuters
Implats expects 300% earnings rise
Impala Platinum flags a more than 300% surge in annual earnings, boosted by an increase in metals prices and a weaker rand.
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20 Aug 2020
Source: Reuters
Standard Bank profit drops 43%
Standard Bank announces that its half-year profits dropped by 43%.
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20 Aug 2020
Source: fin24
Game reports R1 billion earnings drop
Massmart reports a more than R1 billion earnings drop after it lost approximately R2.3 billion in liquor sales in March and April.
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20 Aug 2020
Source: Reuters
Nedbank profit to fall by two-thirds
Nedbank says it expects its headline earnings per share for the half-year to end June to fall between 67 from the same period last year.
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24 Aug 2020
Source: fin24
Absa cancels dividend
Absa’s headline earnings declines 93% for the first half of 2020 and the group announces that it will not be paying an interim dividend due to higher credit impairments.
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31 Aug 2020
Source: Reuters
RCL Foods’ profits drop by 65%
RCL Foods reports an annual loss reflecting the impact of Covid-19 and a R1.5 billion impairment on its assets.
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31 Aug 2020
Source: Reuters
Sun International cuts 3 300 jobs
Sun International plans to cut 3 300 jobs in SA and Chile as part of a restructuring plan to survive the pandemic, which took the firm into a half-year headline loss of R885 million.
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1 Sept 2020
Source: Bloomberg
Euro inflation turns negative
Consumer prices in the euro area fall for the first time in four years, with the inflation rate coming in at -0.2%.
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3 Sept 2020
Source: Reuters
Implats earnings up 400%
Impala Platinum’s annual earnings jump by nearly 400% after higher metal prices and a weaker rand offset the impact of the pandemic.
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8 Sept 2020
Source: EWN
SA GDP down 16%
South Africa’s GDP for the second quarter of 2020 shrinks by 16.4% non-annualised, the steepest decline since at least 1990.
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9 Sept 2020
Source: Moneyweb
Shoprite Checkers profits up
Despite its liquor and furniture outlets being closed during the lockdown, Shoprite Checkers’ operating profit increases by 8.7% for the year to June.
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10 Sept 2020
Source: Moneyweb
Momentum posts substantial loss
Momentum posts a headline loss of R251 million in the second half of its financial year, largely because of additional provisions of nearly R1 billion for pandemic-related claims.
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15 Sept 2020
Source: Moneyweb
Harmony Gold posts full-year loss
Harmony Gold posts an annual loss of R828 million after derivative losses caused by a weaker exchange rate, despite soaring gold prices.
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16 Sept 2020
Source: Reuters
Discovery profit down 94%
Discovery’s shares fall 3 full-year profit fall.
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17 Sept 2020
Source: Reuters
Woolworths profit down 65%
South African retailer Woolworths reports a 65.1% drop in earnings for the year to June.
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30 Sept 2020
Source: Statistics SA
Inflation at 3.1%
South Africa’s headline consumer price inflation stands at 3.1% year-on-year in August.
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