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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 16 April 2019
South Africa
Miners came under pressure on Monday amid softer commodity prices, dragging the JSE through the mud despite positive sentiment towards equities. At 18h00, the All Share had lost 0.27%.
United States
The dollar weakened against the euro on Monday as market participants kept a close eye on European manufacturing data scheduled to be released today. Shortly after the JSE closed, the Dow was 0.28% lower.
Europe
European shares were stable on Monday as apprehensions over a slowing global economy were somewhat muted by strong Chinese economic data. At 18h20, the pan-European STOXX 600 index was up by 0.15%.
Hong Kong
Fears of a slowing global economy were prevalent in Hong Kong on Monday, weighing shares down. The Hang Seng ended the day 0.33% in the red.
Japan
Japan’s Nikkei jumped to a four-month high on Monday following an upsurge in global equities and a weaker yen. The Nikkei ended the day 1.37% higher.
Rand
The rand weakened against major global currencies on Monday and is expected to be range-bound for the remainder of this week due to the Easter long weekend. At 18h30, the rand traded R14.03 against the dollar.
Precious metals
Gold prices plunged to a more than one-week low on Monday as positive developments in the US-China trade negotiations lifted risk appetite. At 18h35, spot gold was trading at $1 292.03 an ounce.
Oil
Oil prices slipped on Monday following reports that Russia may withdraw from the production cuts deal with OPEC. At 18h40, a barrel of Brent crude was trading at $71.40.
Miners came under pressure on Monday amid softer commodity prices, dragging the JSE through the mud despite positive sentiment towards equities. At 18h00, the All Share had lost 0.27%.
United States
The dollar weakened against the euro on Monday as market participants kept a close eye on European manufacturing data scheduled to be released today. Shortly after the JSE closed, the Dow was 0.28% lower.
Europe
European shares were stable on Monday as apprehensions over a slowing global economy were somewhat muted by strong Chinese economic data. At 18h20, the pan-European STOXX 600 index was up by 0.15%.
Hong Kong
Fears of a slowing global economy were prevalent in Hong Kong on Monday, weighing shares down. The Hang Seng ended the day 0.33% in the red.
Japan
Japan’s Nikkei jumped to a four-month high on Monday following an upsurge in global equities and a weaker yen. The Nikkei ended the day 1.37% higher.
Rand
The rand weakened against major global currencies on Monday and is expected to be range-bound for the remainder of this week due to the Easter long weekend. At 18h30, the rand traded R14.03 against the dollar.
Precious metals
Gold prices plunged to a more than one-week low on Monday as positive developments in the US-China trade negotiations lifted risk appetite. At 18h35, spot gold was trading at $1 292.03 an ounce.
Oil
Oil prices slipped on Monday following reports that Russia may withdraw from the production cuts deal with OPEC. At 18h40, a barrel of Brent crude was trading at $71.40.
Our daily update
Yesterday we covered the latest trading update from Kaap Agri in which the group showed strong revenue growth for the 6 months ended March 2019, they did however state that gross profits did not grow at the same rate as revenue, and cited margin pressure, sales mix and higher fuel prices as reasons for this. Read more 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.
A very strong start to the first quarter of the month of April 2018 with the JSE All Share Index being up 3.13% since the start of April 2019. Can the JSE All Share index make it 4 positive months in a row? It certainly looks like it is heading in that direction.
This following three months of positive returns for the JSE All Share Index. But while there overall returns of the JSE All Share so far in 2019 has been positive (as shown by our 2019 Calendar tracker) 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
This following three months of positive returns for the JSE All Share Index. But while there overall returns of the JSE All Share so far in 2019 has been positive (as shown by our 2019 Calendar tracker) 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