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  • Spring is here, and things are starting to heat up again. After a great month for markets in August, volatility has once again reared its head in September as we drift towards the end of 2020.
  • President Cyril Ramaphosa announced on the 20th September 2020 that the country will be moving to Level 1 as this will ease some of the restrictions which were imposed on citizens under lockdown.
  • The rand continued to recover in September and is still expected by most economists to recover before the end of the year, although volatility could increase over the coming days as U.S elections draw nearer.
  • Capitec has reported a 78% fall in headline earnings after it lost out on transaction fees and loan sales during the lockdown as customers borrowed and transacted less.
  • The pound rallied against the dollar and euro before falling back slightly after a bank of England official dismissed talk of possible negative interest rates to boost the UK economy.
  • Boris Johnson announced tougher lock down restrictions for the UK as new cases surge to its highest since the pandemic began:
    • Pubs, bars and restaurants to close at 10pm
    • People should work from home where possible
    • Fines for not wearing masks or following rules increased to £ 200 for a first offence
  • Over the past few months since the whole world basically went into lockdown E-Commerce experienced rapid growth and shows no sign of slowing down even during September when almost all countries have gone back to some sort of normal.
  • Zoom smashed estimates, sending the stock skyrocketing in September pushing CEO Eric Yuan’s fortune to $4.2bn. The market cap of Zoom is now worth more than Mexico’s market index.
  • On a lighter note the world was up in arms to find out that US president Donald Trump paid $70 000 to style his hair for television which was claimed as expenses.
  • One-month index movements:
    • JSE All Share Index: – 1.58%
    • S&P 500 (US): – 3.80%
    • FTSE (UK): – 1.54 %