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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

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  • Election campaigning is set to kick into high gear this week with the ANC and other major parties launching their manifestos this week as unemployment numbers come into focus on Tuesday. ANC will launch its manifesto at 1600BST today.
    • The DA launched its manifesto on Saturday - promising better service delivery and electricity security if it were to gain more support.
    • The EFF launched its manifesto yesterday and promised that undelivered RDP houses would be built in Sandton if the party takes over the City of Joburg and that more taxes on the wealthy would subsidise the poor.
    • 15,000 supporters attended and analysts said the speech was a direct hit for marginal ANC voters. Both sides emphasised the need for anti-corruption measures – EWN, Daily Maverick
  • Energy regulator Nersa proposes an overhaul of Eskom's price determination structures. Eskom currently uses a revenue-based determination to set electricity prices, which has resulted in the group raising electricity tariffs far above inflation so that it can recover billions in lost revenue.
    • Nersa proposes Eskom move to a cost-to-serve model, requiring each power station to set tariffs based on their own supply profiles. Different supplies carry different profiles and meet different needs, it said, so the pricing structures need to differ, too
  • SA covid cases slip below the 1,000/day mark with 52 deaths. Total vaccinations stand at 16.8m.
    • CSIR says this marks the end of the third wave for SA with cases dropping 40% on week & hospitalisations by 32%