BBB Ep 23 - Shares rocket despite Fed's 0.75% rate hike; Rand rises strongly; BN favourites report - Spotify jumps 12%; Meta falls 6%; Dr Frans Cronje..

Loading player...
US share prices rose strongly last night after Fed chairman raised interest rates 0.75% as anticipated, but said the world's largest economy had definitely not entered recession. With the Nasdaq gaining 4% and the S&P500 2.6%, in the session July is shaping up as equities' best month in a long time. Among the biggest winners was music streaming and podcast platform Spotify whose share price jumped 12% after quarterlies showed its exponential growth continues apace. Another BizNews portfolio holding, however, disappointed badly as Meta (ex-Facebook) missed Wall Street's projections by 10%. In after hour trading Meta shares lost the 6% gained during Thursday's session. Also in this episode of the BizNews Breakfast Briefing, highlights from the interview where long-time SA bear Dr Frans Cronje explains why he has become 'very excited' about the country's future. Learn more about your ad choices. Visit megaphone.fm/adchoices
28 Jul 2022 12AM English South Africa Investing · Business News

Other recent episodes

Dr Kelvin Kemm: How “secure” is SA’s enriched uranium?

There are growing fears that nuclear weapons could be used in the Iran war. That has brought renewed focus on that 2007 attempted armed robbery at South Africa's nuclear research site, Pelindaba, and the “security” of the country’s large, high-quality enriched uranium stock. Chris Steyn asks Dr. Kelvin Kemm, a…
23 Mar 10AM 21 min

Helen Zille at BNC#8: “Johannesburg is collapsing like Rome” — a do-or-die warning for South Africa

Helen Zille delivered a hard-hitting BNC#8 address, drawing stark parallels between ancient Rome’s collapse and Johannesburg’s deepening crisis. She warns of failing infrastructure, entrenched corruption, and political fragmentation, arguing that only decisive governance and voter action can reverse decline. Her message is clear: Johannesburg stands at a do-or-die moment, and…
23 Mar 6AM 28 min