Market suffers under strong Rand & US Consumer Confidence hits all-time high

The market suffered last week under a stronger than expected Rand and a weak Naspers, despite a good set of results. Private Sector Credit extension was weaker than expected at 5.4% year on year. US consumer confidence hit an all-time high as the S&P500 index hit record highs. In company news - FirstRand’s Laurie Diepenaar steps down to make way for Jardine, Advtech has voluntarily disclosed a fraud at top management, and Bidvest confirms the sale of Comair.