News 15:00

BULLETIN 23 May 3 pm

Good afternoon. I am……..

In this bulletin:

# Seventy-four-percent of fund managers anticipate a post-election SA stock rally
# The FF Plus demands an explanation for the Julius Malema hate speech case delay
# And rugby: Manie Libbok signs an extension with the Stormers untill 2027

# A Bank of America survey of 19 South African-focused fund managers found that 74-percent expect a rally in domestic equities after next week’s election, despite potential policy shifts. The survey, conducted earlier this month, revealed that 79-percent believe equities and bonds are undervalued, with banks, software, mining, and food producers favoured. Although optimistic about the market, only 11-percent expect policy reforms to accelerate after the election. Concerns include potential leftward policy shifts, weak earnings, and inflation.

# The Freedom Front Plus has criticised the National Prosecuting Authority for a five-month delay in acting on a hate speech complaint against EFF leader Julius Malema. The complaint, lodged in July last year, concerns Malema’s use of the song ‘Kill the Boer, Kill the Farmer’ and the phrase ‘shoot to kill’ during the EFF’s tenth-anniversary celebrations. Party leader Pieter Groenewald says despite the police completing their investigation in December last year, the NPA has not acted:

# President Joe Biden plans an official visit to Africa in February next year following the US presidential election. His remarks came during a meeting with Kenyan president William Ruto at the White House. Discussions with Ruto and other leaders will cover trade, debt relief, and international concerns. While no formal announcement has been made, Biden’s intention to visit Africa aligns with his administration’s focus on global issues. The Democrat is seeking another term in the November 5 election against his Republican rival, former president Donald Trump.

# Rugby: World Cup winner Manie Libbok has signed a three-year contract extension with the Stormers. The talented playmaker has made a big impression in the number 10 jersey over the last three years and will continue to pull the strings for the Stormers. He joins teammates Sacha Feinberg-Mngomezulu, Dan du Plessis, Ruben van Heerden and Evan Roos, who have also committed to stay in Cape Town until 2027. Director of Rugby John Dobson said that having Libbok in the squad for another three years is a huge boost.

# The financial indicators: The dollar trades at 18-rand-38-cents and the euro at 19-rand-93-cents. One British pound costs 23-rand-39-cents and Bitcoin trades at 69-thousand-684-dollars-50-cents. Gold sells at two-thousand-368-dollars-58-cents a fine ounce and Brent crude oil is quoted at 82-dollars-40-cents a barrel.

# And finally: Deputy chief justice Mandisa Maya has hailed Constitutional Court judge Yvonne Mokgoro as one of South Africa’s greatest jurists. Speaking at the official funeral at Bryanston Catholic Church in Johannesburg, Maya highlighted Mokgoro’s impactful judicial work and her role in the nation’s judicial history. Remembering her lasting legacy, she praised Mokgoro as a humanist who honoured life, particularly in her judgments, and was passionate about gender equality:

Stay tuned for more news………….