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The Market Standard with Simon Brown - 13 July 2020
Contributor

Offshore

 

Economy: Germany saves. A lot. Total retail deposits rose by €22.4bn in April and hit fresh All-time high at €2.46tn. The volume of retail bank deposits in Deutschland has doubled within 18 years. On the other hand, German production and export data was disappointing but not surprising as they have nobody to sell to in a lockdown world.

 

Stocks: Warren Buffett’s Berkshire buys Dominion Energy natural gas assets in $10 billion deal and Uber goes buying Postmates. Meanwhile, Elon Musks short shorts idea seems to have the market excited as Tesla still storming higher (as is Nasdaq). Gold, ever the safe haven, has breached the $1800 mark, and looks to be going strong.

 

Local

 

Economy: Load shedding is back and might put a bit of a spanner in the attempt to reboot the economy, and impede any work-from-home efforts as people can’t work if they don’t have electricity. The reserve bank seems to be dialling down on bond buying, with only R5.1billion bonds bought in June

 

Stocks: Many eggs in one basket? The market is crazy about Quantum Foods. We also chat Omnia’s restructure and the turnaround they seem to be seeing. We look at updates from Liberty 2 degrees and Growthpoint and talk around Steinhoff selling Conforama.

 

 

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1 Comment
MALEKE
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