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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.
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Short summary of PSG's market commentary for 12 March 2019
South Africa
Despite disappointing earnings reports released by banks, the JSE closed slightly higher on Monday, thanks to Naspers’ stellar performance because of positivity surrounding Sino/US trade talks. At the end of trade, the All Share was up 0.17%.
United States
The technology sector started the week on a high as it rose by 1.34% on Monday. Apple alone climbed 2.30% after Bank of America Merrill Lynch changed their view of the share from neutral to buy. At 19h00, the Nasdaq traded up 1.70%.
Europe
Although the FTSE was in the red on Monday, the pound strengthened on optimism around Brexit progress ahead of the Parliamentary vote on Tuesday. European markets also started the week on a high thanks to rumours about mergers in the banking sector. The pan-European STOXX 600 index closed 0.78% up.
Hong Kong
The Shanghai Composite index started the week strong after the People’s Bank of China’s governor, Yi Gang, pledged to provide increased support for China’s slowing economy. At 19h00, the Shanghai was 1.92% higher.
Japan
On Monday, the Nikkei broke its four-session losing streak thanks to strong performances from automakers and a softer dollar. At 19h00, the Nikkei traded 0.38% up.
Rand
The rand made up some ground against the dollar on Monday as the dollar felt pressure from the weak US nonfarm payroll data released on Friday, and as the Brexit vote once again moved into the limelight. At 19h00, a dollar cost R14.35.
Precious metals
Bullion prices traded lower on Monday as the equity market steadied and the US released better-than-expected retail sales data, calming fears around the US economy slowing down. At 19h00, an ounce of spot gold was trading at $1 291.97.
Oil
Oil prices started the week on a high as it was lifted on Monday by comments that OPEC could continue cutting supply until about July, and US drilling slowing down. At 19h00, a barrel of Brent crude was trading at $66.29.
Despite disappointing earnings reports released by banks, the JSE closed slightly higher on Monday, thanks to Naspers’ stellar performance because of positivity surrounding Sino/US trade talks. At the end of trade, the All Share was up 0.17%.
United States
The technology sector started the week on a high as it rose by 1.34% on Monday. Apple alone climbed 2.30% after Bank of America Merrill Lynch changed their view of the share from neutral to buy. At 19h00, the Nasdaq traded up 1.70%.
Europe
Although the FTSE was in the red on Monday, the pound strengthened on optimism around Brexit progress ahead of the Parliamentary vote on Tuesday. European markets also started the week on a high thanks to rumours about mergers in the banking sector. The pan-European STOXX 600 index closed 0.78% up.
Hong Kong
The Shanghai Composite index started the week strong after the People’s Bank of China’s governor, Yi Gang, pledged to provide increased support for China’s slowing economy. At 19h00, the Shanghai was 1.92% higher.
Japan
On Monday, the Nikkei broke its four-session losing streak thanks to strong performances from automakers and a softer dollar. At 19h00, the Nikkei traded 0.38% up.
Rand
The rand made up some ground against the dollar on Monday as the dollar felt pressure from the weak US nonfarm payroll data released on Friday, and as the Brexit vote once again moved into the limelight. At 19h00, a dollar cost R14.35.
Precious metals
Bullion prices traded lower on Monday as the equity market steadied and the US released better-than-expected retail sales data, calming fears around the US economy slowing down. At 19h00, an ounce of spot gold was trading at $1 291.97.
Oil
Oil prices started the week on a high as it was lifted on Monday by comments that OPEC could continue cutting supply until about July, and US drilling slowing down. At 19h00, a barrel of Brent crude was trading at $66.29.
Our daily update
Yesterday we looked at the contribution of the various provinces to South Africa's GDP. We get asked a lot, which province contributes the most to South Africa's economy. Or which province in South Africa has the biggest economy. The summary below shows the contribution various provinces make to South Africa's total GDP (as at end 2017)
See the full article here.
- Gauteng: 34.82%
- KwaZulu-Natal: 16.05%
- Western Cape: 13.86%
- Eastern Cape: 7.53%
- Mpumalanga: 7.25%
- Limpopo: 7.20%
- North West: 5.91%
- Free State: 5.20%
- Northern Cape: 2.20%
See the full article here.
Our JSE All Share index daily performance calendar
Visit our JSE Calendar tracker page for a expanded version of the calendar below
The graphic below provides the daily returns of the JSE All Share Index (J203) on a calendar chart. Provides a great overview of the All share index over the course of the month. It will be updated daily with our daily investment update as received from PSG.
Markets have remained relatively flat in recent days with it flip flopping between gains and losses. So far for March 2019 the JSE All Share Index has declined by -0.78%. Yesterday we showed the latest JSE trading statistics which showed that during the last trading week (which ended on 8 March 2018 ) foreigners remained net sellers of JSE listed shares. See full update here.
And while there overall returns of the JSE All Share so far in 2019 has been positive we are losing out in Dollar terms. We continue to advise investors to take money out of South Africa and invest it offshore. Looking for ideas for investments to make? Go read this article
And while there overall returns of the JSE All Share so far in 2019 has been positive we are losing out in Dollar terms. We continue to advise investors to take money out of South Africa and invest it offshore. Looking for ideas for investments to make? Go read this article