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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 June 2019
South Africa
The JSE closed higher with other global equity markets on Monday, boosted by weekend news that the US will not impose tariffs on Mexico over the lack of security at their mutual border. The All Share closed 0.66% in the green.
United States
Wall Street opened higher on Monday, after the US abandoned its plans to impose tariffs on Mexican goods. Shortly after the JSE closed, the Dow was up by 0.64%.
Europe
Strong Chinese export data and the US-Mexico no tariffs pronouncement bolstered European markets on Monday, automobile shares also got a lift after signals that Fiat-Chrysler and Renault could revive their merger. Shortly after the JSE closed, the FTSE 100 had gained 0.59% and the CAC 40 0.25%.
Hong Kong
Hong Kong shares tracked global markets on Monday after the US abandoned plans to impose tariffs on Mexico and as global investors hoped for lower US interest rates on the back of lacklustre jobs data. The Hang Seng index ended up 2.27%.
Japan
The Nikkei rose on Monday, led by automakers after US President Donald Trump withdrew a threat to impose tariffs on Mexican imports. The benchmark Nikkei rose 1.20%.
Rand
The rand was also boosted by buoyant global markets after the US and Mexico averted a 5% tariff on Mexican imports, and as expectations grew that the US Fed might cut interest rates. At 18h50, a dollar traded at R14.82.
Precious metals
Gold retreated on Monday after an agreement late last week between the US and Mexico to avert a tariff war curbed safe-haven demand for the metal. At 18h50 an ounce of spot gold traded at $1 327.32.
Oil
Oil prices rose on Monday after Saudi Arabia said Opec and Russia should keep supplies restricted at current levels. At 18h50, a barrel of Brent crude traded at $63.51.
The JSE closed higher with other global equity markets on Monday, boosted by weekend news that the US will not impose tariffs on Mexico over the lack of security at their mutual border. The All Share closed 0.66% in the green.
United States
Wall Street opened higher on Monday, after the US abandoned its plans to impose tariffs on Mexican goods. Shortly after the JSE closed, the Dow was up by 0.64%.
Europe
Strong Chinese export data and the US-Mexico no tariffs pronouncement bolstered European markets on Monday, automobile shares also got a lift after signals that Fiat-Chrysler and Renault could revive their merger. Shortly after the JSE closed, the FTSE 100 had gained 0.59% and the CAC 40 0.25%.
Hong Kong
Hong Kong shares tracked global markets on Monday after the US abandoned plans to impose tariffs on Mexico and as global investors hoped for lower US interest rates on the back of lacklustre jobs data. The Hang Seng index ended up 2.27%.
Japan
The Nikkei rose on Monday, led by automakers after US President Donald Trump withdrew a threat to impose tariffs on Mexican imports. The benchmark Nikkei rose 1.20%.
Rand
The rand was also boosted by buoyant global markets after the US and Mexico averted a 5% tariff on Mexican imports, and as expectations grew that the US Fed might cut interest rates. At 18h50, a dollar traded at R14.82.
Precious metals
Gold retreated on Monday after an agreement late last week between the US and Mexico to avert a tariff war curbed safe-haven demand for the metal. At 18h50 an ounce of spot gold traded at $1 327.32.
Oil
Oil prices rose on Monday after Saudi Arabia said Opec and Russia should keep supplies restricted at current levels. At 18h50, a barrel of Brent crude traded at $63.51.
Our daily update
Every monday we cover the latest JSE trading statistics as published by the JSE, the stock exchange operator. Below a summary of some of the main trading statistics for the week ending 7 June 2019
Number of trades:
Number of trades (2019): 1 505 338
Number of trades (2018): 1 438 043
% change year on year: 4.68%
Volume traded:
Volume traded (2019): 1 460 682 000
Volume of traded (2018): 1 722 297 000
% change year on year: -15.19%
Value of trades:
Value of trades (2019): R102 416 120 000
Value of trades (2018): R98 951 653 000
% change year on year: 3.50%
Foreign purchase/selling:
Net sales/Purchases (2019): R7 684 063 000
Net sales/Purchases (2018): -R632 114 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R28.182 billion
Net sales/Purchases (2018): R11.714 billion
Read the full article here
Number of trades:
Number of trades (2019): 1 505 338
Number of trades (2018): 1 438 043
% change year on year: 4.68%
Volume traded:
Volume traded (2019): 1 460 682 000
Volume of traded (2018): 1 722 297 000
% change year on year: -15.19%
Value of trades:
Value of trades (2019): R102 416 120 000
Value of trades (2018): R98 951 653 000
% change year on year: 3.50%
Foreign purchase/selling:
Net sales/Purchases (2019): R7 684 063 000
Net sales/Purchases (2018): -R632 114 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R28.182 billion
Net sales/Purchases (2018): R11.714 billion
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 after four very positive months on the markets the month of May bucked the trend and saw half the gains made during the first four months of the year on the JSE wiped out in one month. While the South African Rand has really been struggling the Rand hedges on the JSE has been pushing the local stock market higher, with the first week of June recording 5 positive trading days in a row. The JSE All Share Index is up over 5% during the first six trading days of June 2019
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