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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 9 April 2019
South Africa
A rising oil price and weaker rand boosted miners on Monday helping the JSE close slightly higher. The All Share gained 0.11%.
United States
US shares headed lower on Monday, as Boeing’s shares took a hit and investors braced for what could be the first decline in corporate earnings since 2016. Trade was also cautious with investors waiting for direction from a meeting between US and Chinese officials expected to take place today. As the JSE closed, the Dow had fallen 0.43%.
Europe
Most European shares were down on Monday amid losses across most sectors, with German bank and real estate shares drawing investor attention. EU leaders are expected to consider UK Prime Minister Theresa May’s request for a Brexit extension during a summit on Wednesday. At the JSE's close, the FTSE 100 was flat and the DAX 30 was 0.43% down.
Hong Kong
Hong Kong shares ended firmer on Monday after hints of more stimulus in China buoyed investor sentiment, while high oil prices lifted energy stocks. At the close of trade, the Hang Seng index was up 0.47%.
Japan
The Nikkei ended lower on Monday as investors were cautious ahead of the corporate earnings season. The Nikkei share closed 0.21% lower.
Rand
While the local currency was boosted last week after Moody’s kept South Africa’s credit rating unchanged, the rand was slightly weaker, at R14.12/$ at the JSE’s close.
Precious metals
Gold rose on Monday, and remained at its highest in more than one week as the dollar slipped and a recent equities rally paused. An ounce of spot gold traded at $1 297.51 at 19h30.
Oil
Oil prices rose on Monday, driven by expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and US sanctions against Iran and Venezuela. At 19h30, a barrel of Brent crude traded at $71.66.
A rising oil price and weaker rand boosted miners on Monday helping the JSE close slightly higher. The All Share gained 0.11%.
United States
US shares headed lower on Monday, as Boeing’s shares took a hit and investors braced for what could be the first decline in corporate earnings since 2016. Trade was also cautious with investors waiting for direction from a meeting between US and Chinese officials expected to take place today. As the JSE closed, the Dow had fallen 0.43%.
Europe
Most European shares were down on Monday amid losses across most sectors, with German bank and real estate shares drawing investor attention. EU leaders are expected to consider UK Prime Minister Theresa May’s request for a Brexit extension during a summit on Wednesday. At the JSE's close, the FTSE 100 was flat and the DAX 30 was 0.43% down.
Hong Kong
Hong Kong shares ended firmer on Monday after hints of more stimulus in China buoyed investor sentiment, while high oil prices lifted energy stocks. At the close of trade, the Hang Seng index was up 0.47%.
Japan
The Nikkei ended lower on Monday as investors were cautious ahead of the corporate earnings season. The Nikkei share closed 0.21% lower.
Rand
While the local currency was boosted last week after Moody’s kept South Africa’s credit rating unchanged, the rand was slightly weaker, at R14.12/$ at the JSE’s close.
Precious metals
Gold rose on Monday, and remained at its highest in more than one week as the dollar slipped and a recent equities rally paused. An ounce of spot gold traded at $1 297.51 at 19h30.
Oil
Oil prices rose on Monday, driven by expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and US sanctions against Iran and Venezuela. At 19h30, a barrel of Brent crude traded at $71.66.
Our daily update
Yesterday retail giant Pick 'n Pay brought out their latest trading update, and based on the share price performance the market liked it. Below a small snippet of their trading update. Read the full update here.
Shareholders are advised that Pick n Pay Stores Limited (“the Group”) is in the process of finalising its 2019 financial results for the 53 weeks* ended 3 March 2019, which are expected to be published on 26 April 2019.
The Group delivered turnover growth of 9.6% in the 53 weeks of the 2019 financial year. On a comparable 52-week basis, turnover increased by 7.1%, with like-for-like turnover growth of 4.8%. With selling price deflation of 0.3% over the year, the Group achieved like-for-like volume growth of 5.1%. The Group’s core South Africa division delivered comparable turnover growth of 7.4%. Through a combination of its Pick n Pay and Boxer brands, the Group demonstrated consistent market share gains across the year.
Shareholders are advised that Pick n Pay Stores Limited (“the Group”) is in the process of finalising its 2019 financial results for the 53 weeks* ended 3 March 2019, which are expected to be published on 26 April 2019.
The Group delivered turnover growth of 9.6% in the 53 weeks of the 2019 financial year. On a comparable 52-week basis, turnover increased by 7.1%, with like-for-like turnover growth of 4.8%. With selling price deflation of 0.3% over the year, the Group achieved like-for-like volume growth of 5.1%. The Group’s core South Africa division delivered comparable turnover growth of 7.4%. Through a combination of its Pick n Pay and Boxer brands, the Group demonstrated consistent market share gains across the year.
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 2.67% 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. 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