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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 5 April 2019
South Africa
While there was no clear market data (local or abroad) to give the local bourse direction on Thursday, investors made the most of the recent gains by taking profits. The All Share closed 0.37% down.
United States
On Thursday, US-China trade-negotiation optimism skewed into concerns as no new progress was seen, leaving US indices to open somewhat flat. At 19h40, the Nasdaq was 0.25% lower.
Europe
It was a mixed Thursday for European markets due to weak industrial orders data from Germany, insinuating a soft start to the year, and optimistic concerns around the US-Sino trade deal. The FTSE closed 0.26% down and the DAX 0.29% up.
Hong Kong
Chinese shares enjoyed one-year highs on Thursday on the back of the Chinese government announcing to cut certain fees and service charges on 1 July 2019, and investors rejoicing in trade optimism. At the end of trade, the Shanghai index was 0.94% higher.
Japan
On Thursday, Japanese markets inched up as investors looked at carmakers and cyclical shares based on optimism that the US and China will reach a deal. At the end of business, the Nikkei was 0.05% in the green.
Rand
Despite Eskom’s statement that it needed another R250 billion to dig out of its crisis, the local currency still made gains on Thursday thanks to offshore investor demand. At 19h40, the rand traded R14.12 to the dollar and R18.46 to the pound.
Precious metals
Bullion dropped on Thursday (gold reaching an almost 10-week low) as US jobless claims data lifted the greenback. At 19h40, spot gold was trading at $1 288.57 an ounce.
Oil
Tightened global supply pushed Brent crude to reach the $70 per barrel mark on Thursday; this despite rising US production. At 19h40, Brent crude was trading at $70.21 per barrel.
While there was no clear market data (local or abroad) to give the local bourse direction on Thursday, investors made the most of the recent gains by taking profits. The All Share closed 0.37% down.
United States
On Thursday, US-China trade-negotiation optimism skewed into concerns as no new progress was seen, leaving US indices to open somewhat flat. At 19h40, the Nasdaq was 0.25% lower.
Europe
It was a mixed Thursday for European markets due to weak industrial orders data from Germany, insinuating a soft start to the year, and optimistic concerns around the US-Sino trade deal. The FTSE closed 0.26% down and the DAX 0.29% up.
Hong Kong
Chinese shares enjoyed one-year highs on Thursday on the back of the Chinese government announcing to cut certain fees and service charges on 1 July 2019, and investors rejoicing in trade optimism. At the end of trade, the Shanghai index was 0.94% higher.
Japan
On Thursday, Japanese markets inched up as investors looked at carmakers and cyclical shares based on optimism that the US and China will reach a deal. At the end of business, the Nikkei was 0.05% in the green.
Rand
Despite Eskom’s statement that it needed another R250 billion to dig out of its crisis, the local currency still made gains on Thursday thanks to offshore investor demand. At 19h40, the rand traded R14.12 to the dollar and R18.46 to the pound.
Precious metals
Bullion dropped on Thursday (gold reaching an almost 10-week low) as US jobless claims data lifted the greenback. At 19h40, spot gold was trading at $1 288.57 an ounce.
Oil
Tightened global supply pushed Brent crude to reach the $70 per barrel mark on Thursday; this despite rising US production. At 19h40, Brent crude was trading at $70.21 per barrel.
Our daily update
Yesterday we did an article discussing South African firms and their love hate affair with Nigeria, with it being a large and lucrative market but Nigerian regulators looking to take advantage of foreign firms by slapping massive penalties and fines on foreign companies. Read more regarding this here.
We also covered the latest JSE All share PE ratio and the long term trend in the JSE All Share PE ratio. For more on this read here.
We also covered the latest JSE All share PE ratio and the long term trend in the JSE All Share PE ratio. For more on this read 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.
So a very positive start for the month of April has turned into an extremely positive start for the Month of April 2019 with the JSE Al Share being up by 2.2% since the start of April. 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. 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