A quiet week on the global front with the likes of Draghi indicating that no further stimulus will be implemented any time soon. Euro stocks trended lower after the comment. The South African rand has been relatively stable against the US dollar for the week holding at levels between R14.30 and R14.50. German pharmaceuticals company, Bayer, has purchased Monsanto in a deal that totalled $66 billion. China Resources Beer Holdings, owner of Snow Beer, has propositioned buying out SAB’s remaining African business for $6 billion. Transnet have stated that they are more than likely going to take legal action against Futuregrowth for holding back on foreseeable funding of State Owned Enterprises. Futuregrowth currently only represents 1.25% of Transnet’s R120 billion debt position.
Read more in the document below:
Map of the World’s Billionaires and their Origin | Cannon Asset Managers research