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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 10 December 2018
South Africa
The local bourse ended Friday in the green thanks to the surge in oil prices boosting Sasol shares and poor US non-farm payroll data being released. Both the All Share and the Top 40 closed the week up.
United States
Most US markets ended the week in the red after disappointing job growth data for November was released, which insinuated that fewer interest rate increases might occur in 2019.
Europe
European markets put up a fight to make up some ground on Friday, despite Thursday’s selloff and the continued US-China trade worries, due to worse-than-expected US non-farm payroll data being released. The STOXX 600 ended the day 0.86% in the green.
Hong Kong
China’s markets ended the week flat as healthcare shares plummeted and investors were still wary of the Huawei CFO arrest on Thursday and how it will affect the US-China trade disputes.
Japan
The Nikkei index made up some ground on Friday as it was lifted by gains in the retail, marine transport and services sectors. At 21h10 on Sunday, the Nikkei traded 0.82% up.
Rand
Although the rand is still turning under the R14/$-mark, it managed to make up some of its losses on Friday due to the underwhelming non-farm payroll data and treasury yields released by the US. At 21h10 on Sunday, the rand traded R14.14 to the dollar.
Precious metals
On Friday gold prices picked up, nearing its highest weekly gain since August, in light of expectations that US rate hikes might slow down in 2019. At 21h10 on Sunday gold traded at $1 248.17 an ounce.
Oil
Oil prices surged late on Friday afternoon as OPEC and its allies agreed to reduce output on a larger-than-expected scale. On Sunday at 21h10, Brent crude cost $61.74 per barrel.
The local bourse ended Friday in the green thanks to the surge in oil prices boosting Sasol shares and poor US non-farm payroll data being released. Both the All Share and the Top 40 closed the week up.
United States
Most US markets ended the week in the red after disappointing job growth data for November was released, which insinuated that fewer interest rate increases might occur in 2019.
Europe
European markets put up a fight to make up some ground on Friday, despite Thursday’s selloff and the continued US-China trade worries, due to worse-than-expected US non-farm payroll data being released. The STOXX 600 ended the day 0.86% in the green.
Hong Kong
China’s markets ended the week flat as healthcare shares plummeted and investors were still wary of the Huawei CFO arrest on Thursday and how it will affect the US-China trade disputes.
Japan
The Nikkei index made up some ground on Friday as it was lifted by gains in the retail, marine transport and services sectors. At 21h10 on Sunday, the Nikkei traded 0.82% up.
Rand
Although the rand is still turning under the R14/$-mark, it managed to make up some of its losses on Friday due to the underwhelming non-farm payroll data and treasury yields released by the US. At 21h10 on Sunday, the rand traded R14.14 to the dollar.
Precious metals
On Friday gold prices picked up, nearing its highest weekly gain since August, in light of expectations that US rate hikes might slow down in 2019. At 21h10 on Sunday gold traded at $1 248.17 an ounce.
Oil
Oil prices surged late on Friday afternoon as OPEC and its allies agreed to reduce output on a larger-than-expected scale. On Sunday at 21h10, Brent crude cost $61.74 per barrel.
Our daily rant..
It seems like the VBS scandal is dragging EFF deputy leader Floyd Shivambu ever deeper into the mess. Based on the latest investigations by Scorpio it seems the Floyd personally requested the chair of VBS to ensure a loan for a property is granted to his brother Brian Shivambu so that they can buy their parents a house in the West Rand. This after the bank's own credit assessment team classified Brian as a "very high risk".
And in a embarrasing tweet that Floyd Shivambu deleted faster than the speed of light, he calculated that if 1095 women are killed every year in SA it would amount to 399 675 annually. Now if this is the highly educated DP of the EFF, we dont have much hope for them or this country. Yearly and annually is the same thing Mr Shivambu.
And in a embarrasing tweet that Floyd Shivambu deleted faster than the speed of light, he calculated that if 1095 women are killed every year in SA it would amount to 399 675 annually. Now if this is the highly educated DP of the EFF, we dont have much hope for them or this country. Yearly and annually is the same thing Mr Shivambu.