The profitability for a large portion of the formal listed space remained healthy, benefitting from the cost-cutting measures that had been undertaken at the peak of the pandemic as well as rising volumes., , private consumption, government spending, india, revenue, COVID-19 Pandemic, economy
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Loop file photo of Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange.
Managing Director of the Jamaica Stock Exchange (JSE) Marlene Street Forrest says the change engendered by the COVID-19 pandemic has resulted in positive changes in the market.
“We support the view that where life gives us lemons, we make lemonade. The COVID pandemic has opened our vistas in our mode of operation,” she said in her opening remarks of the 16
th JSE investments and Capital Markets Conference on Tuesday.
Within the last year, the JSE and listed companies have had to lean on the assistance of legal and IT experts in navigating the challenges of COVID-19. One such issue was the holding of annual general meetings (AGMs) amidst a ban on public gatherings.
January 2021 Conference Board Consumer Confidence Improved
The latest
Conference Board Consumer Confidence Index s headline number improved moderately in January, after decreasing in December. The Index now stands at 89.3 (1985=100), up from 87.1 in December. A quote from the Conference Board:
. the percent of consumers who said they intend to purchase a home in the next six months improved, suggesting that the pace of home sales should remain robust in early 2021 .
Analyst Opinion of Conference Board Consumer Confidence
Consumer confidence had been steady for the previous two years - but the coronavirus killed the upswing. Consumer confidence is as low as seen in 2014.
The Euro to South African Rand fell today, with the pairing currently trading around R18.34.
The South African Rand benefited from the International Monetary Fund’s (IMF) bullish outlook for the global economy.
Covid-19 vaccine have helped improve the IMF’s previous outlook back in October.
However, the IMF’s Chief Economist, Gita Gopinath, warned:
‘Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens.’
‘There remains tremendous uncertainty and prospects vary greatly across countries.’
South Africa’s Covid-19 situation also appears to be worsening, with the new virus variant causing concern as the nation’s excess deaths soars.