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< South Africa's GDP
Economics Main Page >

PSG daily investment update for 9 September 2019

Category: Financial markets
Date: 9 September 2019

Related Topics

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 inputs in at the end.
Picture
  • JSE Calendar Tracker 2019
  • JSE All Share Sunburst chart
  • ​JSE All share pie chart
  • JSE trading statistics ​

Short summary of PSG's market commentary for 9 September 2019

South Africa
The local market ended the week in the green, having gained 0.60% in the past week on the back of US-China trade optimism. The JSE All Share closed up 0.21% at 55 591.09 points.

United States
US indices opened higher on Friday, lifted by weak non-farm payroll data (raising US rate cut expectations) as well as China’s stimulus plan for its weakening economy. Shortly after the JSE closed, the Dow had gained 1.30% and stood at 26 808.53 points.

Europe
European markets closed Friday slightly higher as weak German and US economic data were offset by optimistic investor sentiment around China’s plan to boost bank lending. The STOXX 600 closed 0.32% up.

Hong Kong
On Friday, Asian shares reported their biggest weekly gains since June as China’s cabinet announced that they would implement ”both broad and targeted cuts in the reserve requirement ratio (RRR) for banks in a timely manner.” At the closing bell, the Hang Seng was 0.71% in the green at 26 690.76 points.

Japan
Upbeat US data, the scheduling for the US-Sino trade negotiations and a weak yen increased risk-on trade in Japan on Friday. The benchmark Nikkei ended up 0.54%.

Rand
The local currency recorded the best weekly performance in about three months on Friday due to positive economic releases and optimistic trade war reports. At 17h45, a dollar traded at R14.75.

Precious metals
Bullion prices lost its footing slightly on Friday as it fell by 1%; this after upbeat comments from Federal Reserve Chair Jerome Powell offset worse-than-expected US non-farm payrolls. At 17h45, an ounce of gold $1 520.81.

Oil
Oil prices rose on Friday after Powell said that “the central bank will act, as appropriate, to sustain an economic expansion in the world’s biggest economy that has been pressured by uncertainty over global trade.” At 17h45, Brent crude traded at $61.20 per barrel.

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Our daily update

We covered the latest weekly market wrap from Peregrine Treasury Solutions this morning. Below the extract pertaining to their view of the week ahead.

THE WEEK AHEAD
As always, a close eye should be kept on the global environment, with focus mainly being directed toward a few key elements
  • Trade dynamics
  • Global growth expectations; and
  • Brexit
Locally, the situation on the ground can very-easily spill over in to a Pan African conflict, as one may start to see retaliation by foreigner’s against South African businesses throughout the rest of Africa starting to unfold - incidents have already been recorded in Nigeria and Zambia. The week ahead will see the release of U.K. GDP and unemployment numbers, while the US is set to release JOLTS job opening numbers, inflation and retail sales figures. Locally, one will see the release of Q3 business confidence numbers. The rand can be expected to remain below R15.00, against the US dollar, for the time being, however, any escalation of tension could see the local currency rapidly losing ground once again. The tone of the Fed on Friday evening will also determine the landscape of markets, heading into the new week. The rand started the day trading at R14.87/$, R16.41/€ and R18.32/£

Read the full article 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.
While the month of August was negative by -1.73% lets see what the month of September holds for the South African stock market.

For the month of September 2019 so far the JSE All Share Index  is dup 0.61% for this period.

There are continued and growing concerns about a global slow down largely driven by the trade ware between the US and China. Continued tariffs by the US on Chinese goods and the retaliation by China by raising tariffs on US goods keeps hurting markets and global economic growth, as the world's two biggest economies continue to stand off in this trade war.

​For more on daily market movements see our  2019 Calendar tracker.

But 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

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Additional content

Related Topics

  • ​JSE Calendar Tracker 2019
  • JSE All Share Sunburst chart
  • ​JSE All share pie chart
  • JSE trading statistics ​


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  • Economics
    • Rand Dollar Exchange Rate
    • South Africa's GDP
    • South Africa's Unemployment
    • SA by numbers
    • Economic Progress Index
    • Taylors Rule
    • South Africa's Formal Business Sector
    • South-Africa's-Fiscal-Policy
    • SA EU Trade Data
    • Inflation Heat Map
    • Population Density Map
    • Labour Market Dynamics
    • Estimating the Size of the Informal Economy
    • SA Consumer Spending Patterns
    • South Africa's Monetary Fiscal Policy Mix
    • GDP Animations >
      • SouthAfrica
      • WesternCape
      • EasternCape
      • NorthernCape
      • FreeState
      • KwaZuluNatal
      • NorthWest
      • Gauteng
      • Mpumalanga
      • Limpopo
    • South Africa's Economic Structure
    • South Africa's Economic History
    • South Africa's Trade Data Page
    • South Africa's Food and Beverages Sector
    • Financial Well-being of South African Companies_2015
    • SA vs the World
    • Budget Day Page (24 Feb 2016)
  • Stock in Focus
    • JSE ALSI Chart
    • Sector Comparison Page
    • JSE-Calendar-Tracker-2019
    • Adcorp (ADR)
    • Amazon (AMZN)
    • Apple (AAPL)
    • Ascendis (ASC)
    • AVI (AVI)
    • Bidvest (BVT)
    • Blue Label Telecoms (BLU)
    • Bowler Metcalf (BCF)
    • Capitec (CPI)
    • City Lodge Hotel Group
    • Clicks Group (CLS)
    • Coronation (CML)
    • Curro Holdings (COH)
    • Discovery (DSY)
    • Distell (DST)
    • EOH (EOH)
    • Famous Brands (FBR)
    • Ferrari (RACE)
    • FirstRand Group (FSR)
    • Grindrod (GND)
    • GrowthPoint (GRT)
    • Holdsport (HSP)
    • Harley-Davidson (HOG)
    • Hyprop (HYP)
    • Hyprop (HYP)_1Jun2016
    • Investec Property Fund (IPF)
    • JSE (JSE)
    • Massmart (MSM)
    • MediClinic (MEI)
    • MTN (MTN)
    • MTN (MTN)_May2016
    • Mr Price Group (MRP)
    • Mr Price Group (MRP)_8APR2016
    • Nedbank (NED)
    • OneLogix (OLG)
    • Peregrine Holdings (PGR)
    • Pick 'n Pay Stores (PIK)
    • Pioneer Foods (PFG)
    • PSG Group (PSG)
    • Quantum Foods (QFH)
    • RCL Foods (RCL)
    • Remgro (REM)
    • Richemont (CFR)
    • RMB Holdings (RMH)
    • Rolfes (RLF)
    • Sanlam (SLM)
    • Sasol (SOL)
    • Sasol (SOL)_18sep2016
    • Santova (SNV)
    • Spar Group (SPP)
    • Shoprite Holdings (SHP)
    • Spur Corporation (SUR)_7Sep2017
    • Standard Bank (SBK)
    • Steinhoff International Holdings (SNH)
    • Stor-Age (SSS)
    • Super Group (SPG)
    • Taste Holdings (TAS)_30May2016
    • The Foshini Group (TFG)
    • Value Logistics (VLE)
    • Vodacom (VOD)
    • Wilson Bayly Holmes Ovcon (WBO)
    • Woolworths (WHL)
    • Woolworths (WHL)_24Aug2017
    • Zeder (ZED)
  • Online Calculators
    • Rand Petrol Price Estimator
    • Share Valuation
    • Financial Ratios Calculator
    • GDP Growth Estimator
    • Future Value of Investment Calculator
    • Loan repayment calculator
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  • Search