Weaker rand agrees with Trump’s gut feel on Fed
“They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me,” Trump told the Washington Post in response to the Federal Reserve raising interest rates.
An indication of how good this year’s Christmas shopping will be for retailers will be provided on Wednesday by the Bureau for Economic Research’s (BER) quarterly consumer confidence index.
In contrast to the business confidence index that the bureau released on Tuesday, which covered the current quarter, Wednesday’s consumer confidence index covers the third quarter.
The economists’ consensus according to Trading Economics is that SA’s consumer confidence index will have fallen to about 17 points from the second quarter’s 22 points.
“Modest economic growth prospects, coupled with significant fuel price increases and high unemployment are some of the factors likely to have affected consumer sentiment,” Investec Bank economist Kamilla Kaplan said in her weekly note e-mailed on Friday.
Fruit and sugar producer Crookes Brothers said on November 20 that it expected to report on Wednesday that basic earnings per share for the six months to end-September grew about 38%.
“The earnings increase is attributable mainly to a significant increase in sugar cane yields as well as overall sugar production stemming from our extensive replanting programme following the drought of the previous year,” the trading statement said.
Arrowhead Properties rebounded 14% to R3.99 on Tuesday ahead of the expected release of its results on Wednesday. It has not issued a trading update.
Source: businesslive.co.za
