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We have to admit running a content website is hard work, especially for a small team looking to build a wider reader base and to develop interesting and informative content is pretty tiring stuff. So we have decided to give readers a taste of PSG's daily investment update that it emails to it's clients.
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Short summary of PSG's market commentary provided daily
South Africa
The JSE reversed course on Thursday to close firmer as risk-on sentiment improved after the European Central Bank (ECB) re-affirmed its stimulatory policies. The All Share closed 1.47% higher.
United States
US stocks gained on Thursday, as Microsoft’s strong earnings helped Nasdaq-listed companies stage a rebound from the tech-heavy index’s worst decline since 2011 in the previous session. At 20h00 the Nasdaq was trading 2.71% in the green.
Europe
Eurozone shares ended a choppy session in positive territory on Thursday as corporate results in France and a late boost from a weakening euro lifted the market. The STOXX rose 1% with France's CAC 40 gaining as much as 1.60%.
Hong Kong
China’s main onshore stock market indexes clawed back from midday losses on Thursday, but shares in Hong Kong ended lower despite a late rally, joining regional bourses battered in the wake of Wall Street’s rout. At the close of trade, China’s blue-chip CSI300 index was up 0.20%.
Japan
The Nikkei closed at its lowest in nearly seven months on Thursday with chip-related stocks suffering after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011. The Nikkei share average ended 3.70% down.
Rand
The rand reversed earlier gains and was weaker against the dollar on Thursday afternoon, tracking a softer euro, which fell after the ECB kept its rates on hold. At 20h00 one dollar cost R14.57.
Precious metals
Gold prices edged lower on Thursday, with some investors taking advantage of a recent surge in prices to lock in profits. At 20h00 spot gold was trading at $1229.39 an ounce.
Oil
Oil prices fell on Thursday as Asian and European stock markets plunged in the wake of Wall Street’s biggest daily decline in seven years, with investors shedding risk in an uncertain political landscape. Brent crude was trading at $76.88 a barrel at 20h00.
The JSE reversed course on Thursday to close firmer as risk-on sentiment improved after the European Central Bank (ECB) re-affirmed its stimulatory policies. The All Share closed 1.47% higher.
United States
US stocks gained on Thursday, as Microsoft’s strong earnings helped Nasdaq-listed companies stage a rebound from the tech-heavy index’s worst decline since 2011 in the previous session. At 20h00 the Nasdaq was trading 2.71% in the green.
Europe
Eurozone shares ended a choppy session in positive territory on Thursday as corporate results in France and a late boost from a weakening euro lifted the market. The STOXX rose 1% with France's CAC 40 gaining as much as 1.60%.
Hong Kong
China’s main onshore stock market indexes clawed back from midday losses on Thursday, but shares in Hong Kong ended lower despite a late rally, joining regional bourses battered in the wake of Wall Street’s rout. At the close of trade, China’s blue-chip CSI300 index was up 0.20%.
Japan
The Nikkei closed at its lowest in nearly seven months on Thursday with chip-related stocks suffering after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011. The Nikkei share average ended 3.70% down.
Rand
The rand reversed earlier gains and was weaker against the dollar on Thursday afternoon, tracking a softer euro, which fell after the ECB kept its rates on hold. At 20h00 one dollar cost R14.57.
Precious metals
Gold prices edged lower on Thursday, with some investors taking advantage of a recent surge in prices to lock in profits. At 20h00 spot gold was trading at $1229.39 an ounce.
Oil
Oil prices fell on Thursday as Asian and European stock markets plunged in the wake of Wall Street’s biggest daily decline in seven years, with investors shedding risk in an uncertain political landscape. Brent crude was trading at $76.88 a barrel at 20h00.
Our daily rant..
One of our tweets yesterday received a number of likes and retweets. We basically took issue with new finance minster Tito Mboweni who said we should pay our E-tolls. But we are dead set against it as it a very crude and inefficient way to collect taxes. To give readers an idea, a rough cost estimate implies it costs South Africa's National Roads Agency (SANRAL) 68c to collect R1 in E-tolls. Yet it costs SARS 89c to collect R100 in taxes. Now why on earth should we as South African's accept paying 68c to collect R1, when we can collect the money required to keep Gauteng's free ways in check via taxes imposed by SARS at 89c for every R100 collected? We as South African's should not accept such ineffective, inefficient and costly means to collect taxes. The tweet is shown below. Follow us on Twitter: @SouthAfrican_MI
