|
Related Topics |
|
In our continued efforts to give our readers a broad number of views, opinions and information, we continue to provide PSG's daily market updates and add our own daily rant at the end.
|
|
Short summary of PSG's market commentary for 10 January 2019
South Africa
The local bourse tracked a stellar performance by Asian markets on Wednesday afternoon as investors cheered further signs of a possible truce between the US and China. At the close of business the All Share was up 2.08% while the top 40 gained a healthy 2.22%.
United States
US stocks edged higher on Wednesday in a fourth consecutive day of gains, as heightened expectations of a trade deal between the US and China increased demand for risk assets globally. The Dow gained over 40 points and the S&P 500 ended 0.44% higher.
Europe
European stocks surged on Wednesday led by the autos and tech sectors on renewed optimism that the US and China could possibly avoid a full-scale trade war that would worsen a decelerating global economy. At the close of business the FTSE 100 was up 0.66%.
Hong Kong
Shares in Hong Kong enjoyed a strong performance on Wednesday reaching levels not seen since last November, as progress in the Sino-US trade talks and a new attempt by China to stimulate domestic consumption cheered investors. The Hang Seng ended the day 2.27% higher.
Japan
Signs of improvement in the US-Sino trade talks boosted Japan’s Nikkei on Wednesday afternoon, offsetting weakness in chip-related stocks which had a less-than-inspiring performance forecast for the year ahead. The Nikkei share average gained 1.10% ending the day at 20 427.06 points.
Rand
The local currency strengthened against major global currencies on Wednesday taking cue from its emerging-market counterparts, as markets cheered on positive trade talk developments between two of the world’s biggest economic giants. At 18h00 the rand traded R13.89 against the dollar.
Precious metals
Gold plunged for a second consecutive day on Wednesday amid regained appetite for risk following news of a breakthrough in US-Sino trade talks, while palladium reached a new record high. Spot gold ended the day on 1 289.74 points.
Oil
Oil prices surged on the back of heightened expectations that the world’s two largest economies would finally resolve their on-going trade war. At 18h30 benchmark Brent crude was trading at $59.64 a barrel.
The local bourse tracked a stellar performance by Asian markets on Wednesday afternoon as investors cheered further signs of a possible truce between the US and China. At the close of business the All Share was up 2.08% while the top 40 gained a healthy 2.22%.
United States
US stocks edged higher on Wednesday in a fourth consecutive day of gains, as heightened expectations of a trade deal between the US and China increased demand for risk assets globally. The Dow gained over 40 points and the S&P 500 ended 0.44% higher.
Europe
European stocks surged on Wednesday led by the autos and tech sectors on renewed optimism that the US and China could possibly avoid a full-scale trade war that would worsen a decelerating global economy. At the close of business the FTSE 100 was up 0.66%.
Hong Kong
Shares in Hong Kong enjoyed a strong performance on Wednesday reaching levels not seen since last November, as progress in the Sino-US trade talks and a new attempt by China to stimulate domestic consumption cheered investors. The Hang Seng ended the day 2.27% higher.
Japan
Signs of improvement in the US-Sino trade talks boosted Japan’s Nikkei on Wednesday afternoon, offsetting weakness in chip-related stocks which had a less-than-inspiring performance forecast for the year ahead. The Nikkei share average gained 1.10% ending the day at 20 427.06 points.
Rand
The local currency strengthened against major global currencies on Wednesday taking cue from its emerging-market counterparts, as markets cheered on positive trade talk developments between two of the world’s biggest economic giants. At 18h00 the rand traded R13.89 against the dollar.
Precious metals
Gold plunged for a second consecutive day on Wednesday amid regained appetite for risk following news of a breakthrough in US-Sino trade talks, while palladium reached a new record high. Spot gold ended the day on 1 289.74 points.
Oil
Oil prices surged on the back of heightened expectations that the world’s two largest economies would finally resolve their on-going trade war. At 18h30 benchmark Brent crude was trading at $59.64 a barrel.
Our daily rant..
So PR nightmare struck Woolworths yesterday, when Shannon Mary Mac accused Woolworths South Africa of plagiarism. She shows on her website, https://shannonmac.co.za the striking similarities between a product that she created called the Ubuntu Baba baby carrier and a baby carrier sold online by Woolworths as well as in Woolworths stores. Below a few pictures of the similarities between the Woolworths product and hers. You make up your own mind.
|
|
|
So Woolies business model is if our over paid creative staff cant come up with new ideas, we steal ideas and designs from small businesses who wont have the financial muscle to take them on legally? Well social media is a pretty powerful tool and Woolworths yesterday felt the wrath of Twitter.