{"id":114990,"date":"2016-03-02T07:31:12","date_gmt":"2016-03-02T05:31:12","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=114990"},"modified":"2016-03-02T07:31:12","modified_gmt":"2016-03-02T05:31:12","slug":"5-important-things-you-need-to-know-before-the-jse-opens-today-6","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/114990\/5-important-things-you-need-to-know-before-the-jse-opens-today-6\/","title":{"rendered":"5 important things you need to know before the JSE opens today"},"content":{"rendered":"<p>Here&#8217;s what is happening in the markets:<\/p>\n<ul>\n<li>Despite its parent company, Barclays, planning to sell down its majority stake in\u00a0the company to around 20%, <strong><a href=\"http:\/\/www.bdlive.co.za\/business\/financial\/2016\/03\/02\/barclays-africa-presses-on-with-expansion-plan\" target=\"_blank\">Barclays Africa (Absa) says it will continue its business strategy as usual, with a goal to expand further into Africa<\/a><\/strong>. The group posted good results on Tuesday, pushing its share price up over 2% &#8211; Barclays, meanwhile, was down over 8% on its poor results.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.iol.co.za\/business\/news\/drought-takes-toll-on-sa-breeding-stock-1992106\" target=\"_blank\">The drought in South Africa has killed around 5% of the country&#8217;s\u00a0cattle and pork-breeding herds<\/a><\/strong> &#8211; fuelling food price\u00a0hikes and ultimately hitting jobs. Chicken <strong><a href=\"http:\/\/www.iol.co.za\/business\/news\/meat-producers-expect-food-prices-to-soar-1991988\" target=\"_blank\">prices need to be hiked by as much as R7 to sustain the industry, while beef and lamb prices could jump by as much as 12% and 14%<\/a><\/strong>. As many as 650,000 cattle have perished in the extreme weather &#8211; and 20,000 jobs are at risk.<\/li>\n<\/ul>\n<ul>\n<li>SARS has joined the presidency and the Hawks in an attempt to quell speculation and turbulence around an investigation into a &#8220;rogue unit&#8221; which was allegedly set up under Finance Minister Pravin Gordhan&#8217;s watch. <strong><a href=\"http:\/\/www.bdlive.co.za\/national\/2016\/03\/02\/sars-fires-salvo-in-moyane-gordhan-row\" target=\"_blank\">The revenue service defended the Hawks investigation, and distanced its leader &#8211; Tom Monyane &#8211; from the process<\/a><\/strong>, saying it started before he was even appointed.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand extended its recovery for a second day after President Jacob Zuma said he supported Finance Minister Pravin Gordhan, helping the currency shrug off data showing the economy was slowing. <strong><a href=\"http:\/\/www.xe.com\/currencycharts\/?from=USD&amp;to=ZAR\" target=\"_blank\">The rand is trading at R15.59 to the dollar, R21.78 to the pound and R16.94 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>In global markets<strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N16A0AI\" target=\"_blank\"> Asian shares rallied to two-month highs on Wednesday as overnight gains in oil prices <\/a><\/strong>and a swath of positive economic data from Australia to the United States calmed fears of a global economic slowdown. Oil prices dropped on Wednesday in the wake of industry data that showed a huge build in US crude stockpiles.<\/li>\n<\/ul>\n<p>In other news:\u00a0The National Union of Metalworkers of SA (Numsa) says that <strong><a href=\"http:\/\/www.iol.co.za\/business\/news\/eskom-hike-could-cost-sa-40-000-jobs-1991972\" target=\"_blank\">the 9.4% hike in electricity tariffs granted to Eskom could lead to as many as 40,000 job losses<\/a><\/strong>, as predicted by the Chamber of Mines. The group said businesses were already strapped for cash and cutting jobs, and the new fee hike would add even more pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s what is happening in and affecting the South African markets today (2 March 2016)<\/p>\n","protected":false},"author":10,"featured_media":110603,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26,175],"class_list":["post-114990","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\/114990","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=114990"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/114990\/revisions"}],"predecessor-version":[{"id":114994,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/114990\/revisions\/114994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/110603"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=114990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=114990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=114990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}