Events that moved the market Q2 2021

Prosus plans to sell a 2. This could potentially be the biggest block trade on record.

Crypto exchange iCE3 initiates liquidation after suspending trading soon after it discovered account discrepancies. iCE3 was established in 2013 and is one of the oldest exchanges in the country.

Capitec sees net credit impairments rise 75 falloff in total loans advanced and disbursements. Net income has dropped 9%.

Bitcoin jumps to an alltime high as the mood in cryptocurrencies turn bullish before Coinbase Global goes public.

The price of palladium, used to curb emissions, surpasses the previous record set in February 2020. Prices have climbed more than 17% this year, building on five straight annual gains.

SA records a shortfall of 11.2 of GDP presented during the Budget speech.

Musk cites concerns about ‘rapidly increasing use of fossil fuels for Bitcoin mining’ and Tesla suspends vehicle purchases using Bitcoin. Bitcoin mining is consuming 66 times more electricity than in 2015.

The annual inflation rate in the US soars to 4.2 in March and well above market forecasts of 3.6%. It is the highest reading since September 2008.

Sasol agrees to sell a 30% stake in a natural gas pipeline running from Mozambique to South Africa. The deal is part of an accelerated asset-sale program to reduce debt.

Hurt by Covid-19-led lockdowns across its markets, TFG flags an up to 85% decline in full-year profit.

South Africa launches phase two of its vaccine rollout with the aim of inoculating five million citizens aged over 60 by the end of June.

After years of speculation of a possible deal between the world’s second largest beer group Heineken and South Africa’s Distell, the two groups announce they’ve entered into discussions.

The South African Reserve Bank (SARB) announced the repo rate will stay at 3.5%. The MPC’s vote was unanimous. Nevertheless, the SARB warns of possible rate hikes later this year.

Minister Gorhan announces that Eskom has reduced its debt by almost a fifth after repaying matured loans and benefiting from a strong exchange rate.

South Africa’s unemployment rate rises to a new record high of 32.6% in the first quarter of 2021. Most of the job losses were in construction.

The US unemployment rate fell to 5.8. Hospitality again led job creation, with 292 000 new positions.

The G7 agrees on a two-pillar global tax solution. Under Pillar 1 the most profitable multinationals will pay tax in the countries where they operate. Under Pillar 2, the minimum tax rate will be at least 15%.

SA GDP grows by 1) in the three months through March from the previous quarter. However, GDP contracted 3.2% year-onyear, which means output is still down from a year ago.

In a surprise move, President Ramaphosa announces that the government will increase the generation threshold for companies to produce their own electricity without a licence to 100MW.

Retailer confidence leaps to a six-year high of 54 points in the second quarter. That’s up from 37 points in the first quarter.

Naspers’ annual results show that company revenue grew by 32 to $5.6 billion.

Consumer Price Index (CPI) accelerates to 5.2 in April, The biggest driver of the increase in CPI is the price of fuel, which is 37% more expensive than it was a year ago.

SA re-enters lockdown level 4 with amended restrictions, effectively closing down alcohol-related industries, hospitality and tourism.