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COMMODITIES

Copper Hits 7-Week Lows As China Seen Curbing Prices

EQUITIES

Strong Start, With S&P Testing New Highs

EURIBOR

Latest Fix (Jun 15 2021)

GILT AUCTION RESULTS

DMO sells GBP2.75bln of the 0.125% Jan-28 gilt

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LOCAL NEWS

  • Health Min Mkhize says first day of phase 2 Covid-19 vaccine rollout went relatively well, barring challenges presented by nationwide load shedding, and violent protests in the Free State.
    • Noted 'a large number' of vaccinations, but figures were still being consolidated.
    • Health dept has given a 24 hour window for the numbers to be properly tallied before releasing the figures.
    • A dashboard will be launched for the tracking of vaccination numbers in real time
  • Government has blinked first in wage negotiations with unions, offering a once-off 1.5% wage increase & R978 cash bonus after months of remaining resolute on promises for 0% in line with fiscal consolidation goals (trim wage bill by R300bn over 3yrs).
    • This was rejected by unions which have remained firm on their CPI +4% demands (8.3%). Govt says there is sufficient cash for the offer it tabled, but no more - negotiations are still ongoing
  • Eskom suspends load shedding today, after some units returned to power. Warned, however, that load-shedding will resume from 1700-2200 tonight, as the grid remains under severe pressure.
    • Outlook remains unpredictable for the rest of the week - Eskom Twitter