Events that moved the market Q2 2022
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8 Apr 2022Source: BloombergEU bans Russian coalEU countries agree to ban coal imports from Russia. The UN General Assembly votes to suspend Russia from the Human Rights Council, the first suspension since Libya in 2011.
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12 Apr 2022Source: BloombergTencent back in the gameTencent shares surge, joining the rest of China’s gaming industry in a rally after regulators approved the country’s first batch of new titles in more than eight months.
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14 Apr 2022Source: BloombergMusk to buy TwitterElon Musk offers $54.20 per Twitter share in cash, a 54% premium over the share’s January high. The social media company’s shares soar 18% after the news breaks.
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18 Apr 2022Source: iolKZN floods declared disasterPresident Ramaphosa declares the floods in KZN, which destroyed 4 000 homes and killed over 400 people, a national state of disaster. The flooding also disrupted fuel lines and food supplies.
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21 Apr 2022Source: BloombergRotten tomato for NetflixNetflix shares plunge 35%, its biggest drop since 2004, after the company announces a loss in subscribers and the move towards advertising.
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5 May 2022Source: BloombergUS rates up 50 bpsThe Fed delivers the biggest interest rate increase since 2000 – 50 bps - unleashing the most aggressive policy action in decades to combat soaring inflation.
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11 May 2022Source: The GuardianUS inflation at 4-decade highUS data shows that over the year the US CPI’s food index increased 9.4%, the largest 12-month increase since April 1981. UK inflation is forecast to exceed 10% later this year.
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19 May 2022Source: SA Reserve BankSA hikes rates by 50 bpsThe SARB hikes the repo rate by 50 bps, the steepest increase since 2016. This takes the bank’s key rate to 4.75% and the prime lending rate of commercial banks to 8.25%.
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25 May 2022Source: Janus Henderson InvestorsGlobal dividends surgeGlobally, dividends surged 11% to $302.5bn, a first quarter record; underlying growth was even stronger at 16.1%
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26 May 2022Source: MoneywebAfrican Bank to buy GrindrodAfrican Bank will acquire 100% of Grindrod Financial Holdings Limited and 100% of the preference shares issued by Grindrod Bank – a R1.5 billion deal.
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31 May 2022Source: BloombergEurozone at inflation highEurozone inflation accelerates to an all-time high of 8.1% year-on-year, intensifying the debate at the European Central Bank about how rapidly to raise interest rates.
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6 Jun 2022Source: BloombergGupta brothers arrestedRajesh and Atul Gupta are detained by UAE law-enforcement. The arrests come a year after the UAE ratified an extradition treaty with South Africa.
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7 Jun 2022Source: Statistics SASA GDP up 1.9%SA GDP expands 1.9% in the first quarter of 2022. The size of the economy is now at pre-pandemic levels, with real GDP slightly higher than what it was before the pandemic.
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13 Jun 2022Source: BloombergUK economy shrinksThe UK economy shrinks at the sharpest month-on-month pace in more than a year. Manufacturing, services and construction all contract together for the first time since January 2021.
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13 Jun 2022Source: BloombergS&P 500 down 20%The S&P 500 falls nearly 9% in three days, closing more than 20% below its January highs. Also, the yield on 10-year Treasuries touches the highest level since 2011, and two-year rates the highest since the financial crisis.
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13 Jun 2022Source: BloombergYen at 24-year lowThe yen falls to a 24-year low as Japan’s easy monetary policy increasingly contrasts with developed peers hiking rates.
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15 Jun 2022Source: Bankrate75 bps hike for USThe Fed raises rates to a target range of 1.5-1.75% and forecasts a 3.25-3.5% federal funds rate by year-end.
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22 Jun 2022Source: Statistics SASA Inflation at 6.5%Annual inflation accelerates to 6.5%, from 5.9% a month before. That’s the highest level since January 2017.
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22 Jun 2022Source: Bloomberg NewsCovid regulations scrappedSouth Africa’s Health Minister Phaahla repeals the country’s last remaining coronavirus-related restrictions, such as the wearing of masks, curbs on gathering sizes and border checks for Covid.
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27 Jun 2022Source: ReutersRussia defaults on debtRussia fails to keep up payments on $40 billion of outstanding bonds as it is effectively cut off from the global financial system and unable to send money to bondholders.
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27 Jun 2022Source: BloombergNaspers up 23% post resultsNaspers extends its gains after the announcement that Naspers and Prosus will steadily sell down their stake in Tencent and return the proceeds to shareholders via share buy-backs.
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28 Jun 2022Source: SARB Quarterly BulletinForeign investment in SA R27bnSouth Africa records FDI inflows of R27.2 billion in the first quarter of 2022, due to foreign entities increasing equity investments and granting loans to domestic subsidiaries.
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8 Apr 2022Source: BloombergEU bans Russian coalEU countries agree to ban coal imports from Russia. The UN General Assembly votes to suspend Russia from the Human Rights Council, the first suspension since Libya in 2011.
-
12 Apr 2022Source: BloombergTencent back in the gameTencent shares surge, joining the rest of China’s gaming industry in a rally after regulators approved the country’s first batch of new titles in more than eight months.
-
14 Apr 2022Source: BloombergMusk to buy TwitterElon Musk offers $54.20 per Twitter share in cash, a 54% premium over the share’s January high. The social media company’s shares soar 18% after the news breaks.
-
18 Apr 2022Source: iolKZN floods declared disasterPresident Ramaphosa declares the floods in KZN, which destroyed 4 000 homes and killed over 400 people, a national state of disaster. The flooding also disrupted fuel lines and food supplies.
-
21 Apr 2022Source: BloombergRotten tomato for NetflixNetflix shares plunge 35%, its biggest drop since 2004, after the company announces a loss in subscribers and the move towards advertising.
-
5 May 2022Source: BloombergUS rates up 50 bpsThe Fed delivers the biggest interest rate increase since 2000 – 50 bps - unleashing the most aggressive policy action in decades to combat soaring inflation.
-
11 May 2022Source: The GuardianUS inflation at 4-decade highUS data shows that over the year the US CPI’s food index increased 9.4%, the largest 12-month increase since April 1981. UK inflation is forecast to exceed 10% later this year.
-
19 May 2022Source: SA Reserve BankSA hikes rates by 50 bpsThe SARB hikes the repo rate by 50 bps, the steepest increase since 2016. This takes the bank’s key rate to 4.75% and the prime lending rate of commercial banks to 8.25%.
-
25 May 2022Source: Janus Henderson InvestorsGlobal dividends surgeGlobally, dividends surged 11% to $302.5bn, a first quarter record; underlying growth was even stronger at 16.1%
-
26 May 2022Source: MoneywebAfrican Bank to buy GrindrodAfrican Bank will acquire 100% of Grindrod Financial Holdings Limited and 100% of the preference shares issued by Grindrod Bank – a R1.5 billion deal.
-
31 May 2022Source: BloombergEurozone at inflation highEurozone inflation accelerates to an all-time high of 8.1% year-on-year, intensifying the debate at the European Central Bank about how rapidly to raise interest rates.
-
6 Jun 2022Source: BloombergGupta brothers arrestedRajesh and Atul Gupta are detained by UAE law-enforcement. The arrests come a year after the UAE ratified an extradition treaty with South Africa.
-
7 Jun 2022Source: Statistics SASA GDP up 1.9%SA GDP expands 1.9% in the first quarter of 2022. The size of the economy is now at pre-pandemic levels, with real GDP slightly higher than what it was before the pandemic.
-
13 Jun 2022Source: BloombergUK economy shrinksThe UK economy shrinks at the sharpest month-on-month pace in more than a year. Manufacturing, services and construction all contract together for the first time since January 2021.
-
13 Jun 2022Source: BloombergS&P 500 down 20%The S&P 500 falls nearly 9% in three days, closing more than 20% below its January highs. Also, the yield on 10-year Treasuries touches the highest level since 2011, and two-year rates the highest since the financial crisis.
-
13 Jun 2022Source: BloombergYen at 24-year lowThe yen falls to a 24-year low as Japan’s easy monetary policy increasingly contrasts with developed peers hiking rates.
-
15 Jun 2022Source: Bankrate75 bps hike for USThe Fed raises rates to a target range of 1.5-1.75% and forecasts a 3.25-3.5% federal funds rate by year-end.
-
22 Jun 2022Source: Statistics SASA Inflation at 6.5%Annual inflation accelerates to 6.5%, from 5.9% a month before. That’s the highest level since January 2017.
-
22 Jun 2022Source: Bloomberg NewsCovid regulations scrappedSouth Africa’s Health Minister Phaahla repeals the country’s last remaining coronavirus-related restrictions, such as the wearing of masks, curbs on gathering sizes and border checks for Covid.
-
27 Jun 2022Source: ReutersRussia defaults on debtRussia fails to keep up payments on $40 billion of outstanding bonds as it is effectively cut off from the global financial system and unable to send money to bondholders.
-
27 Jun 2022Source: BloombergNaspers up 23% post resultsNaspers extends its gains after the announcement that Naspers and Prosus will steadily sell down their stake in Tencent and return the proceeds to shareholders via share buy-backs.
-
28 Jun 2022Source: SARB Quarterly BulletinForeign investment in SA R27bnSouth Africa records FDI inflows of R27.2 billion in the first quarter of 2022, due to foreign entities increasing equity investments and granting loans to domestic subsidiaries.
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