5 things you need to know before trading starts today

Here is what’s happening in the markets:

  • Despite being fired from his job as finance minister three months ago – ostensibly so that he could take up a position as head of the Africa region of the New Development Bank (NDB) – Nhlanhla Nene is yet to receive a formal letter of appointment. Treasury announced on Monday that the bank was opening up its offices in Johannesburg.
  • Oil prices fell on Tuesday on weak Chinese trading data, but Brent remained over $40 a barrel after jumping to 2016 highs the previous day as producers announced talks to support the market and investors opened new bullish bets. Brent was going at $40.32 a barrel, while US crude was down to $37.48.

In other news: Political analyst Somadoda Fikeni has warned that if the ANC does not implement land reform policies quickly, they will be overtaken by opposition parties – and land reform will happen in a “self-automated process” – referring to land-grabs.

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5 things you need to know before trading starts today