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29 October 2019
Hello Voornaam,

Sasol's shares made a welcome recovery yesterday, surging 12% after the group showed it had taken firm action to remedy the issues that resulted in a surge in costs at its Lake Charles Chemicals Project in the US - including the replacement of its CEOs. Aspen is another company that has had its fair share of problems. It warned shareholders yesterday that it was forced to restate its annual results after Australia recalled a heartburn and ulcer medication, resulting in an impairment.

More on those stories in today's newsletter, along with results from Famous Brands and AngloGold Ashanti, which says it is making progress with the possible sale of its last remaining SA gold mine.

In The Week Ahead, Chris Gilmour looks forward to some of the events that could shape the markets in the days to come. The rand is likely to be directed by tomorrow's medium-term budget policy statement - and Moody's reaction to that on Friday when it takes another look at SA's investment-grade rating.

To protect themselves against rand volatility, TreasuryONE says companies can radically improve their exchange risk profile by bringing in outside help.

If you want to gains some valuable insight into the currency market, TreasuryONE currency strategist Andre Cilliers is hosting a session on the 1st of November at 7h30, where he will share his more than 35 years of risk advice. Register here for the free session.

Finally, if you need finance for your business, our partners can help you make the most informed financial decision by independently comparing SA's business lenders. Whether it be about urgently needing R5,000 for cash flow and inventory growth or for a much larger loan, they are ready to assist with the growth of your business, regardless of its size. Click here now to get started.

I hope you have a good day.

Stephen


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Todays Latest Headlines
Heads roll over Sasol's Lake Charles project
Its joint-CEOs have taken the fall for a significant cost overrun at its chemicals project in the US.
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Indigestion over Aspen's Zantac recall
The Australian regulatory authority has told manufacturers to withdraw products containing ranitidine, including Zantac.
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Famous Brands reduces GBK losses
Although the UK chain narrowed its losses, Famous Brands does not expect Gourmet Burger Kitchen to return to profit for another two years.
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AngloGold closer to exiting SA
The gold producer says due diligence by prospective buyers of its Mponeng mine is complete.
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Another day where the Rand pushed stronger against the US dollar 2019-10-28
Another day where the Rand pushed stronger against the US dollar as it came within a whisker of testing the R14.50 level.
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The Week Ahead of 28 October 2019
A further decline in US interest rates on the cards this week,
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