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PSG daily investment update 12 April 2019
Date: 12 April 2019 Category: Stock Market |
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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 12 April 2019
South Africa
The JSE edged lower on Thursday as global growth worries continued to dampen sentiment, with major central banks flagging subdued global economic growth. Locally, mining output plummeted to its lowest level in three years. The All Share ended the day 0.39% lower.
United States
Wall Street fell on Thursday, hit by a drop in healthcare shares and global growth flagged by central banks. Shortly after the JSE closed, the Dow was down 0.16%.
Europe
European shares edged higher on Thursday as the European Central Bank officially expressed its willingness to support the Eurozone. Shortly after the JSE closed, the FTSE 100 was flat, while the CAC 40 added 0.66% and the DAX 30 0.25%.
Hong Kong
Hong Kong shares dropped on Thursday, as trade tensions between the United States and the European Union added to worries over global economic growth. The Hang Seng fell 0.93%.
Japan
Japanese shares edged higher on Thursday, but gains were capped after the US Federal Reserve’s minutes showed its dovish policy is set to continue. The Nikkei closed up by 0.11%.
Rand
The rand weakened slightly against major currencies on Thursday as mining output plummeted to its lowest level in three years. At 19h30, a dollar traded at R14.02.
Precious metals
Gold prices fell on Thursday as a firm dollar and improved risk appetite pulled investors away from bullion. At 19h30, an ounce of gold traded at $1 290.19.
Oil
Rising US crude stocks dragged the oil price lower on Thursday, but Venezuelan output continued to tighten global supplies. A barrel of Brent crude traded at $71.19 at 19h30
The JSE edged lower on Thursday as global growth worries continued to dampen sentiment, with major central banks flagging subdued global economic growth. Locally, mining output plummeted to its lowest level in three years. The All Share ended the day 0.39% lower.
United States
Wall Street fell on Thursday, hit by a drop in healthcare shares and global growth flagged by central banks. Shortly after the JSE closed, the Dow was down 0.16%.
Europe
European shares edged higher on Thursday as the European Central Bank officially expressed its willingness to support the Eurozone. Shortly after the JSE closed, the FTSE 100 was flat, while the CAC 40 added 0.66% and the DAX 30 0.25%.
Hong Kong
Hong Kong shares dropped on Thursday, as trade tensions between the United States and the European Union added to worries over global economic growth. The Hang Seng fell 0.93%.
Japan
Japanese shares edged higher on Thursday, but gains were capped after the US Federal Reserve’s minutes showed its dovish policy is set to continue. The Nikkei closed up by 0.11%.
Rand
The rand weakened slightly against major currencies on Thursday as mining output plummeted to its lowest level in three years. At 19h30, a dollar traded at R14.02.
Precious metals
Gold prices fell on Thursday as a firm dollar and improved risk appetite pulled investors away from bullion. At 19h30, an ounce of gold traded at $1 290.19.
Oil
Rising US crude stocks dragged the oil price lower on Thursday, but Venezuelan output continued to tighten global supplies. A barrel of Brent crude traded at $71.19 at 19h30
Our daily update
Yesterday saw the release of manufacturing output numbers by Statistics South Africa, and the numbers painted a gloomy picture of South Africa's manufacturing sector. The following snippet was taken from Moneyweb.
South Africa‘s manufacturing output rose 0.6% year-on-year in February after increasing by a revised 0.9% in January, the statistics agency said on Thursday. Economist polled by Reuters had forecast a rise of 0.5% year-on-year in February. On a month-on-month basis factory production fell by 1.8% in February, Statistics South Africa.
South Africa‘s manufacturing output rose 0.6% year-on-year in February after increasing by a revised 0.9% in January, the statistics agency said on Thursday. Economist polled by Reuters had forecast a rise of 0.5% year-on-year in February. On a month-on-month basis factory production fell by 1.8% in February, Statistics South Africa.
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 3.02% since the start of April. A very strong start to the first quarter of the month of April 2018. Can the JSE All Share index make it 4 positive months in a row?
his 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
his 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