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..

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