{"id":120253,"date":"2016-04-14T08:37:12","date_gmt":"2016-04-14T06:37:12","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=120253"},"modified":"2016-04-14T08:37:12","modified_gmt":"2016-04-14T06:37:12","slug":"5-things-you-need-to-know-before-trading-opens-today-26","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/120253\/5-things-you-need-to-know-before-trading-opens-today-26\/","title":{"rendered":"5 things you need to know before trading opens today"},"content":{"rendered":"<p>Here&#8217;s what is happening in the markets:<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.iol.co.za\/business\/news\/sugar-tax-treasury-industry-players-to-meet-2008910\">The Beverage Association of South Africa (BevSA)\u00a0&#8211;\u00a0whose members include Coca Cola, Pepsi and SABMiller &#8211; will be meeting with Treasury next week to discuss the proposed sugar tax for South Africa<\/a><\/strong>. While no official number has been set, the tax could be as high as 20%. The beverage industry has called the tax\u00a0\u201cdiscriminatory\u201d and say it is\u00a0bound to fail.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.bdlive.co.za\/national\/2016\/04\/14\/treasury-takes-tough-line-against-directors-of-denel\">Treasury says that the directors of state-owned military and defence group, Denel\u00a0will face charges of financial misconduct<\/a><\/strong> if they\u00a0move ahead with a new joint venture with a company owned by the controversial Gupta family.\u00a0<strong><a href=\"http:\/\/www.sharenet.co.za\/news\/South_Africas_Treasury_says_not_yet_approved_Denel_deal_with_Gupta_firm\/30870632b9f56d9fb1bef58df7332828\">Denel said last week that it had set up a joint venture with a Gupta-associated company, VR Laser Services<\/a><\/strong>, and that all legal processes had been followed. However, Treasury said that it has not\u00a0yet\u00a0approved the deal, making it illegal if it proceeds.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand extended gains against the dollar on Wednesday, scaling its strongest level since early December, partly driven by positive sentiment towards emerging markets, while stock emulated the upward movement. <strong><a href=\"http:\/\/www.xe.com\/currencycharts\/?from=USD&amp;to=ZAR\">On Thursday the rand was trading at R14.62 to the dollar, R20.69 to the pound and R16.49 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>In global news,\u00a0<strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL5N17H0H8?sp=true\">Asian stocks rose to their highest levels in more than four months on Thursday and regional currencies weakened led by the Singapore dollar<\/a><\/strong> as hopes grew that more central banks will join the city state in easing monetary policy in the coming months.\u00a0Wall Street rallied for a second straight day on Wednesday, led by gains in beaten-down financial shares after JPMorgan&#8217;s quarterly results.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.reuters.com\/article\/us-global-oil-idUSKCN0XB027\">Oil prices fell on Thursday as OPEC warned of slowing demand\u00a0and Russia hinted that there would only be a loose agreement\u00a0with little commitments <\/a><\/strong>at the upcoming exporter meeting to\u00a0rein in ballooning oversupply.\u00a0Brent crude futures were down 1% at $43.66 a barrel, while\u00a0US crude futures\u00a0were also down 1% at $41.60.<\/li>\n<\/ul>\n<p><strong>In other news<\/strong>: <strong><a href=\"http:\/\/www.biznews.com\/africa\/2016\/04\/13\/nhleko-plans-exit-on-3-9bn-fine-optimism-mtn-ceo-search-heats-up-3-shortlisted\/\">The next CEO of the MTN Group has been filtered down to three possible candidates &#8211; two from within the company, and one from without<\/a><\/strong>, Bloomberg reports.\u00a0Executive Chairman, Phuthuma Nhleko, who stepped in to guide the company through its tough time with Nigerian authorities, is planning to step down from the CEO chair in May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s what is happening in and affecting the South African markets today (14 April 2016)<\/p>\n","protected":false},"author":10,"featured_media":2921,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26,175],"class_list":["post-120253","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\/120253","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=120253"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/120253\/revisions"}],"predecessor-version":[{"id":120267,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/120253\/revisions\/120267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/2921"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=120253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=120253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=120253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}