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PSG daily investment update 3 April 2019
Date: 3 April 2019 Category: Stock Market |
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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 3 April 2019
South Africa
Although Moody’s released a statement on Tuesday to say they’ll keep their current credit rating for South Africa unchanged, the JSE closed flat due to losses within the retail and banks sectors. The All Share closed 0.08% higher.
United States
US markets opened low on Tuesday as investors searched for more solid signs to ease their concerns over a global economic slowdown. At 18h45, the S&P 500 was marginally down by 0.13%.
Europe
On Tuesday, European indices continued climbing due to strong performances by auto and insurance shares. However, Brexit uncertainties weighed heavily on the pound sterling. The pan-European STOXX 600 index closed up by 0.35%.
Hong Kong
Hong Kong shares rose for the sixth session in a row on Tuesday thanks to positive Chinese factory releases and optimism around possible progress in the US-Sino trade negotiations. The Hang Seng index ended the day 0.22% in the green.
Japan
Japan’s Nikkei ended Tuesday flat as financial gains were offset by investors selling off defensive shares. The Nikkei closed 0.02% in the negative.
Rand
Despite the announcement by Moody’s to keep their credit rating for South Africa as is, at the close of business on Tuesday, the rand lost some of its earlier gains due to positive US economic releases. At 18h45, the rand traded R14.25 against the dollar.
Precious metals
On Tuesday, bullion prices were dragged down following positive economic releases by both China and the US, lifting investors’ fears over a declining global economy slightly. At 18h45, spot gold was trading at $1 289.31 an ounce.
Oil
Brent crude oil almost reached $70 per barrel on Tuesday, the highest price in 2019, due to disruptions in Venezuela and the possibility of more sanctions placed on Iran. At 18h45, Brent crude was trading at $69.86 per barrel.
Although Moody’s released a statement on Tuesday to say they’ll keep their current credit rating for South Africa unchanged, the JSE closed flat due to losses within the retail and banks sectors. The All Share closed 0.08% higher.
United States
US markets opened low on Tuesday as investors searched for more solid signs to ease their concerns over a global economic slowdown. At 18h45, the S&P 500 was marginally down by 0.13%.
Europe
On Tuesday, European indices continued climbing due to strong performances by auto and insurance shares. However, Brexit uncertainties weighed heavily on the pound sterling. The pan-European STOXX 600 index closed up by 0.35%.
Hong Kong
Hong Kong shares rose for the sixth session in a row on Tuesday thanks to positive Chinese factory releases and optimism around possible progress in the US-Sino trade negotiations. The Hang Seng index ended the day 0.22% in the green.
Japan
Japan’s Nikkei ended Tuesday flat as financial gains were offset by investors selling off defensive shares. The Nikkei closed 0.02% in the negative.
Rand
Despite the announcement by Moody’s to keep their credit rating for South Africa as is, at the close of business on Tuesday, the rand lost some of its earlier gains due to positive US economic releases. At 18h45, the rand traded R14.25 against the dollar.
Precious metals
On Tuesday, bullion prices were dragged down following positive economic releases by both China and the US, lifting investors’ fears over a declining global economy slightly. At 18h45, spot gold was trading at $1 289.31 an ounce.
Oil
Brent crude oil almost reached $70 per barrel on Tuesday, the highest price in 2019, due to disruptions in Venezuela and the possibility of more sanctions placed on Iran. At 18h45, Brent crude was trading at $69.86 per barrel.
Our daily update
The summary below shows the total income earned by small firms per sector of the South African economy (excl agriculture), based on the 4th quarter 2018 QFS survey results as published by Statistics South Africa. The results are sorted from highest to lowest
- Trade (includes wholesale, retail and motor trade sales) : R 326 257 000 000
- Manufacturing: R 163 499 000 000
- Finance and business services: R 156 329 000 000
- Transport: R 52 333 000 000
- Construction: R 24 448 000 000
- Personal care and community services: R 24 135 000 000
- Mining and quarrying: R 7 151 000 000
- Electricity, water and gas: R 1 460 000 000
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 a very positive start for the month of April, 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. 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