{"id":113582,"date":"2016-02-22T08:23:48","date_gmt":"2016-02-22T06:23:48","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=113582"},"modified":"2016-02-22T08:23:48","modified_gmt":"2016-02-22T06:23:48","slug":"5-things-you-need-to-know-before-the-jse-opens-today-8","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/113582\/5-things-you-need-to-know-before-the-jse-opens-today-8\/","title":{"rendered":"5 things you need to know before the JSE opens today"},"content":{"rendered":"<p>Here is what&#8217;s happening in the markets:<\/p>\n<ul>\n<li>All eyes are on Finance Minister Pravin Gordhan ahead of his budget speech this week. Gordhan is widely believed to be introducing more taxes\u00a0&#8211;\u00a0particularly on the wealthy who have taken money out of the country &#8211; to reduce government&#8217;s revenue short fall. This may possibly include <strong><a href=\"http:\/\/www.bdlive.co.za\/economy\/2016\/02\/22\/gordhan-to-target-offshore-funds\" target=\"_blank\">tighter foreign exchange controls and a second grace period for\u00a0those who have taken billions of rands off-shore<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>Sticking with the budget &#8211; while getting more revenue is a good plan, economists believe that it won&#8217;t get anywhere close to solving the country&#8217;s problems. <strong><a href=\"http:\/\/www.iol.co.za\/business\/budget\/economy-will-get-much-worse-1987558\" target=\"_blank\">In fact, economists say that the economy is likely to get much worse, considering the hard time the commodity industry is facing, on top of other factors, like the drought<\/a><\/strong>. Cutting costs should be Gordhan&#8217;s primary goal, they say.<\/li>\n<\/ul>\n<ul>\n<li>South African stocks were dragged lower, falling\u00a0more than 2% on Friday on the news that <strong><a href=\"http:\/\/businesstech.co.za\/news\/mobile\/113310\/mtn-full-year-earnings-to-take-a-massive-knock\/\" target=\"_blank\">mobile operator MTN was expecting a 20% drop in full year earnings<\/a><\/strong>.\u00a0The rand was little changed at a seven-week high as firming U.S. inflation rekindled prospects of a Federal Reserve rate hike, a move that could tighten global liquidity. <strong><a href=\"http:\/\/www.xe.com\/currencycharts\/?from=USD&amp;to=ZAR\" target=\"_blank\">The rand is trading at R15.38 to the dollar, R21.98 to the pound and R17.10 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>In global markets,\u00a0Asian shares edged higher on Monday as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.\u00a0<strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N1610AR?sp=true\" target=\"_blank\">Wall Street ended little changed on Friday, with a left in the tech sector\u00a0offsetting a renewed drop in oil prices<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>Oil prices remain close to $30 a barrel, with <strong><a href=\"http:\/\/www.sharenet.co.za\/news\/Veterans_of_1980s_oil_glut_say_this_price_slump_too_will_last\/1df85052c7eb937d1a8d1c4272dc0e19\" target=\"_blank\">international industry &#8216;veterans&#8217; predicting that the slump is going to stick it out, just like it did in the 1980s<\/a><\/strong>. Locally, the Central Energy Fund reported an over-recovery of 65 cents in LRP fuel, continuing the <strong><a href=\"http:\/\/www.cefgroup.co.za\/wp-content\/uploads\/2013\/10\/Daily-19-02-2016.pdf\" target=\"_blank\">expectation of a fuel price drop in March<\/a><\/strong>. Diesel, meanwhile, is showing an under-recovery of 14 cents, pointing to an increase.<\/li>\n<\/ul>\n<p><strong>In other news<\/strong>:\u00a0<strong><a href=\"http:\/\/www.biznews.com\/thought-leaders\/2016\/02\/22\/previously-silent-ramaphosa-opens-up-on-zuptas-state-capture-strategy\/\" target=\"_blank\">Deputy President Cyril Ramaphosa has spoken out &#8211; cryptically &#8211; about the role of the Gupta family and the South African state<\/a><\/strong>. He\u00a0acknowledged that there was a perception of businesses being involved in &#8220;state capture&#8221;, but\u00a0didn&#8217;t go as far as to name the Guptas and their relationship with president Jacob Zuma.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here is what&#8217;s happening in and affecting the South African markets today (22 February 2016)<\/p>\n","protected":false},"author":10,"featured_media":52419,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[9872,11121],"tags":[26,175],"class_list":["post-113582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-headline","tag-jse"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/113582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=113582"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/113582\/revisions"}],"predecessor-version":[{"id":113584,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/113582\/revisions\/113584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/52419"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=113582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=113582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=113582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}