JSE Direct with Simon Brown

MarketStandard 22 June2200

June 22, 2020

/ Wirecard and the missing $2.1bn

/ Hertz decides NOT to issue shares while under chapter 11

/ Reports on Sunday that British Finance Minister Sunak plans emergency cut in value-added tax

/ Index rebalancing in the Russell indices sees nearly half of the stocks being promoted to the Russell 1000 from the Russell 2000 will be healthcare names.

/ Apple will close 11 stores across Florida (2), North Carolina (2), South Carolina (2) and Arizona (6). This after re-opening 100 in May.

/ Fed Chair Jerome Powell warned millions of people will likely still be unemployed even as the economy is on the path of recovery.

/ The Federal Reserve started buying corporate bonds Tuesday as part of a $250 billion program funded by the CARES Act

Local

/ New level 3.something opens leisure and beauty (to a degree)

/ Marriott Group closing three hotels (Mount Grace, Protea Hotel by Marriott Hazyview and Protea Hotel by Marriott Durban Edward). The hotels are owned by Hospitality Property Fund.

/ Sasol update, lots of news but not on LCCP partial sale or rights issue.

/ Capital raising galore (COH, TCP, TFG, SUI, SOL, MRP)

/ Zero based national budget on Wednesday

/ New kinda wonder drug / Aspen Ascendis (latter Tanzania only)

/ Discovery putting aside R3.3billion for Covid-19 claims.

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