Bumble’s $1 billion privatisation deal, and Woolworths eyes R200,000 a week

The rand was trading at R16.53 against the US dollar on the morning of Tuesday, 13 October 2026, slightly weaker than the day before.

South African equities posted gains yesterday, with the JSE All Share Index rising 0.22% and the Top 40 Index rising 0.20%.

Trading was influenced by heightened geopolitical uncertainty, rising energy prices, and expectations around US monetary policy.

While no major domestic economic releases were scheduled, investors remain cautious of international inflation risks and commodity market developments.

On Wall Street, markets had a mixed session as rising crude oil prices and inflation concerns weighed on technology shares.

This led the Dow Jones to gain 0.38%, while the S&P 500 and the Nasdaq slid by 0.06% and 0.44%, respectively.

In Europe, indices strengthened on the back of banking shares and lower government bond yields.

The STOXX 600 extended its advance to a second consecutive session, gaining 0.65%, while the CAC 40 gained 0.38% and the FTSE gained 0.99%.

Asian stocks fell sharply on Tuesday over concerns around artificial intelligence valuations, semiconductor competition, and Middle East tensions.

The Hang Seng gained 0.25%, while the Shanghai Composite dropped 0.43%. The Nikkei 225 remained unchanged.

In the commodities market, oil prices eased slightly after gaining nearly $2 per barrel on Monday, now sitting around $105 per barrel.

Gold also weakened as investors await US inflation data, easing to around $4,195.26 per ounce.

On Tuesday morning, the rand was trading at R16.53 to the US dollar, R18.47 to the euro, and R21.84 to the British pound.

Important finance and investing news

Bumble to go private: Popular online dating app Bumble is in advanced talks to go private, in a deal that values the company at roughly $1 billion. Founder Whitney Wolfe is expected to stay with the company as part of the deal, with Ithaca Holdings as the prospective buyer. [Wall Street Journal]

Woolworths eyes R200,000 per week: Woolworths is expecting its new WCellar branch at the Dainfern Square Shopping Centre to bring in R200,000 in sales every week. This comes after the group approached the High Court over delays in receiving its liquor licence, with the court ruling in its favour. [BusinessDay]

Getty Images is bankrupt: Getty Image holdings will receive an equity injection from existing shareholders as part of a prepackaged bankruptcy deal, which will restructure it and take the company private. Getty reported $2.1 billion of debt as of 30 June. [Yahoo Finance]

LVMH hits a slump: Luxury conglomerate LVMH posted weaker-than-expected third-quarter sales as a result of declining Chinese consumer purchases in its luxury brands, such as Louis Vuitton and Dior. This has raised concerns that the stagnant luxury industry may struggle to regain momentum. [Reuters]

Minister issues “scramble for Africa” warning: International Relations Minister Ronald Lamola has warned of a new “scramble for Africa” as global powers turn to the continent to secure the critical minerals needed for the green-energy transition. [The Citizen]