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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 inputs in at the end.
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Short summary of PSG's market commentary for 15 November 2019
South Africa
The JSE closed lower following global markets after US Fed Chair Jerome Powell made dovish comments during his testimony before Congress, making a rate cut unlikely this month. The JSE closed down 0.18%.
United States
Wall Street slipped on Thursday, weighed down by technology shares after Cisco’s forecast raised worries of a global economic slowdown and overshadowed strong results from big box retailer Walmart. All three major indices traded in the red at 19h30.
Europe
European shares dipped on Thursday, as a drop in Daimler shares and lacklustre economic data from Asia as well as Europe checked any gains from a handful of positive corporate updates. At 18h30, the pan-European STOXX 600 Index fell 0.20%.
Hong Kong
Hong Kong shares fell on Thursday as parts of the city remained paralysed by a fourth consecutive weekday of protests, and as a drop in index heavyweight Tencent dragged the broader index. The Hang Seng Index closed down by 0.93%.
Japan
The Nikkei retreated by 0.76% on Thursday after profit-taking set in as doubts over an interim US-China trade deal grew.
Rand
The rand strengthened on Thursday as markets digested less noise around the US-China trade dispute. At 18h00, the rand had gained 0.69% to R14.81/$, 0.67% to R16.29/Euro, and 0.61% to R19.04/£.
Precious metals
Gold rose on Thursday as weak Chinese data and doubts about whether Beijing and Washington will reach a trade deal soon dented demand for riskier assets. At 19h30, an ounce of gold traded at $1 471.80.
Oil
Oil rose on Thursday after industry data showed a surprise drop in US crude inventories, while comments from OPEC about lower-than-expected US shale production in 2020 also provided some support. A barrel of Brent crude traded at $62.64 at 19h30
The JSE closed lower following global markets after US Fed Chair Jerome Powell made dovish comments during his testimony before Congress, making a rate cut unlikely this month. The JSE closed down 0.18%.
United States
Wall Street slipped on Thursday, weighed down by technology shares after Cisco’s forecast raised worries of a global economic slowdown and overshadowed strong results from big box retailer Walmart. All three major indices traded in the red at 19h30.
Europe
European shares dipped on Thursday, as a drop in Daimler shares and lacklustre economic data from Asia as well as Europe checked any gains from a handful of positive corporate updates. At 18h30, the pan-European STOXX 600 Index fell 0.20%.
Hong Kong
Hong Kong shares fell on Thursday as parts of the city remained paralysed by a fourth consecutive weekday of protests, and as a drop in index heavyweight Tencent dragged the broader index. The Hang Seng Index closed down by 0.93%.
Japan
The Nikkei retreated by 0.76% on Thursday after profit-taking set in as doubts over an interim US-China trade deal grew.
Rand
The rand strengthened on Thursday as markets digested less noise around the US-China trade dispute. At 18h00, the rand had gained 0.69% to R14.81/$, 0.67% to R16.29/Euro, and 0.61% to R19.04/£.
Precious metals
Gold rose on Thursday as weak Chinese data and doubts about whether Beijing and Washington will reach a trade deal soon dented demand for riskier assets. At 19h30, an ounce of gold traded at $1 471.80.
Oil
Oil rose on Thursday after industry data showed a surprise drop in US crude inventories, while comments from OPEC about lower-than-expected US shale production in 2020 also provided some support. A barrel of Brent crude traded at $62.64 at 19h30
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Our daily update
Yesterday we asked the question about what the future of payments in South Africa will look like and if digital payment methods are rising in popularity and if people in future will carry less cash with them and use digital payment methods more regularly.
Read the full article here
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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.
So the month of October 2019 saw the JSE All Share Index end in the green. And the first trading day of November 2019 saw the JSE edge up slightly last week Friday. Can the momentum continue and the "Christmas rally" carry the markets higher in the closing months of 2019? So the hard work of the first few trading days of November 2019 was basically wiped out by two negative days towards the end of last week. The JSE All Share Index is down -0.31% for the month of November 2019
For more on daily market movements see our 2019 Calendar tracker.
But we as South African investors are losing out in Dollar terms. Largely due to continued Rand weakness not only over the short term but over the last couple of years. 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
For more on daily market movements see our 2019 Calendar tracker.
But we as South African investors are losing out in Dollar terms. Largely due to continued Rand weakness not only over the short term but over the last couple of years. 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