Photo: Supplied
Photo: Supplied

7 things you need to know today

Time of article published Sep 22, 2020

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CAPE TOWN - Good morning. This is all the latest business news that you need to know today.

1. Delta shares plummet after group issues securities alert

Delta Property Fund tumbled nearly 21 percent yesterday after the black-owned property group warned shareholders that circumstances had arisen that were being investigated by the board, which might have a material effect on the price of its shares.

2. AngloGold Ashanti shares lower

AngloGold Ashanti’s share price fell as much as 2.07percent to R436.51 in intraday trade yesterday as commodity market stocks took a pounding on the JSE and despite the gold mining producer reinstating its annual production guidance of between 3.03million ounces and 3.10 million ounces on increasing certainty.

3. Rand steadies overnight

The South African currency started the week on the back foot as risk-off sentiment nocked the local unit from a six-month high reached against the greenback last week according to NKC Research.

4. Money laundering claims knock banking shares

South Africa’s banking stocks took a hit on the JSE yesterday, falling on the International Consortium of Investigative Journalists (ICIJ) investigation that has implicated major international banks in possible money laundering and probable criminal activity.

5. Retail trade confidence edged up in Q3 - Bureau for Economic Research

The Bureau for Economic Research (BER) on Monday said retail trade confidence edged up in the third quarter of this year after plunging to a 29-year low of 11 index points in the second quarter.

6. Astral Foods CEO recovering from accident

Poultry producer Astral Foods Limited (Astral) said that on Monday that its chief executive, Chris Schutte, had an accident on Saturday and that at this stage, the recovery period was unknown.

7. Gemfields losses up 556% in six months

Gemfields, the global supplier of African emeralds and rubies, on Friday said that interim losses had mounted by 556 percent during the six months to the end of June on the Covid-19 pandemic and it would potentially approach shareholders for a rights issue to raise funds.

BUSINESS REPORT ONLINE

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