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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 inputs in at the end.
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Short summary of PSG's market commentary for 11 December 2019
South Africa
Although miners took advantage of the weak rand, boosting the local market, the JSE’s general retailers index lost 2.24% on Tuesday due to flooding and the sixth day of load shedding. The All Share rose 0.27%.
United States
Wall Street opened flat on Tuesday as losers, Netflix and J.P. Morgan, overshadowed optimism that the US and China could extend increasing tariffs in December. At 18h00, the Dow Jones was up by 0.02%.
Europe
European markets extended losses into Tuesday but were lifted by a 6% rise in Sanofi, a pharmaceutical company, and reports that the US might delay the 15 December deadline to increase tariffs on Chinese imports. The pan-European STOXX 600 Index fell 0.26%.
Hong Kong
Asian indices traded with caution on Tuesday as investors waited to see if the US would implement new tariffs on Chinese imports into the US this coming weekend, further complicating trade negotiations. The Hang Seng Index dropped 0.22%.
Japan
Japanese shares closed slightly lower on Tuesday in anticipation of a possible tariff increase on $156 billion worth of Chinese imports; however, both Beijing and Washington sounded positive about current talks. The Nikkei closed down 0.09%.
Rand
On Tuesday the local currency lost over 1% to the dollar after Eskom warned that more load shedding should be expected “after the flash flooding caused the largest power blackouts in more than a decade”. At 18h00, the rand traded R14.86 to a dollar.
Precious metals
Palladium prices soared past $1 900 per ounce for the first time ever on Tuesday with platinum and gold following suit as Washington’s tariff deadline nears and some South African miners had to halt operations due to power cuts. At 18h00, an ounce of gold cost $1 465.22.
Oil
Oil prices edged up on Tuesday, boosted by OPEC and its associates confirming output cuts for 2020 while the trade war rose demand concerns. A barrel of Brent crude traded at $64.76 at 18h00.
Although miners took advantage of the weak rand, boosting the local market, the JSE’s general retailers index lost 2.24% on Tuesday due to flooding and the sixth day of load shedding. The All Share rose 0.27%.
United States
Wall Street opened flat on Tuesday as losers, Netflix and J.P. Morgan, overshadowed optimism that the US and China could extend increasing tariffs in December. At 18h00, the Dow Jones was up by 0.02%.
Europe
European markets extended losses into Tuesday but were lifted by a 6% rise in Sanofi, a pharmaceutical company, and reports that the US might delay the 15 December deadline to increase tariffs on Chinese imports. The pan-European STOXX 600 Index fell 0.26%.
Hong Kong
Asian indices traded with caution on Tuesday as investors waited to see if the US would implement new tariffs on Chinese imports into the US this coming weekend, further complicating trade negotiations. The Hang Seng Index dropped 0.22%.
Japan
Japanese shares closed slightly lower on Tuesday in anticipation of a possible tariff increase on $156 billion worth of Chinese imports; however, both Beijing and Washington sounded positive about current talks. The Nikkei closed down 0.09%.
Rand
On Tuesday the local currency lost over 1% to the dollar after Eskom warned that more load shedding should be expected “after the flash flooding caused the largest power blackouts in more than a decade”. At 18h00, the rand traded R14.86 to a dollar.
Precious metals
Palladium prices soared past $1 900 per ounce for the first time ever on Tuesday with platinum and gold following suit as Washington’s tariff deadline nears and some South African miners had to halt operations due to power cuts. At 18h00, an ounce of gold cost $1 465.22.
Oil
Oil prices edged up on Tuesday, boosted by OPEC and its associates confirming output cuts for 2020 while the trade war rose demand concerns. A barrel of Brent crude traded at $64.76 at 18h00.
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Our daily update
The extract below covers South Africa's latest land transport survey results in which it shows that the bulk of income generated from land transport activities is the transportation of primary mining and quarrying products. The bulk of this being coal that is transported to Richards Bay Coal Terminal for export to countries such as South Korea and India.
The summary below shows the income generated by land transport activities in South Africa for October 2019, ranked from highest to lowest
Read the full article here
The summary below shows the income generated by land transport activities in South Africa for October 2019, ranked from highest to lowest
- Primary mining and quarrying products: R 4 749 000 000
- Other freight: R 2 615 000 000
- Manufactured food, beverages and tobacco products: R 1 699 000 000
- Agriculture and forestry primary products: R 986 000 000
- Chemicals, coke, petroleum, rubber, plastic and other mineral products: R 984 000 000
- Containers: R 764 000 000
- Motor vehicles, parts and accessories: R 364 000 000
- Basic metals and fabricated metal products: R 321 000 000
- Commercial products: R 317 000 000
- Parcels: R 315 000 000
- Non-metallic products: R 307 000 000
- Textiles, clothing and leather products: R 246 000 000
- Electrical machinery, transport machinery and equipment: R 223 000 000
- Used household and office products: R 178 000 000
- Paper and paper products: R 107 000 000
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.
So the month of November so the JSE All Share index end -1.75% in the red. And after the first trading week in December 2019 the JSE All Share index is up by a slim 0.16% for the month of December 2019 so far.
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
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