|
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 rant at the end.
|
|
Short summary of PSG's market commentary for 12 February 2019
South Africa
The JSE strengthened on Monday afternoon buoyed by a stellar performance from Naspers, after the market heavyweight tracked an upsurge in Hong Kong-based Tencent ending the day 1.34% higher. At 19h00 the All Share was up 0.31%.
United States
Dow Jones futures enjoyed a day of gains on Monday as fresh trade talks between the US and China began in Beijing, while American lawmakers attempted to bring forth a deal to avoid yet another government shutdown. At 19h45 the S&P 500 was up 0.07%.
Europe
Optimism among investors over a fresh round of trade talks between Beijing and Washington lifted European shared from one-week lows on Monday. At 19h50 the FTSE 100 gained 0.82%.
Hong Kong
Hong Kong stocks traded higher on Monday following a rally in Mainland Chinese shares, as the US and China began another round of bilateral trade talks. The Hang Seng ended the day 0.71% firmer.
Japan
The stock market was closed in commemoration of the National Foundation Day.
Rand
The rand weakened against major global currencies on Monday as investors avoided risk-assets ahead of possible volatility that could be prompted by a deadlock in the US-China trade talks. At 19h15 the rand traded R13.79 against the dollar.
Precious metals
Gold prices plunged on Monday as investors sought the safety of the dollar to offset risks fuelled by the US-China trade dispute, amid an escalation of concerns over a decelerating global economy. At 19h20, Spot gold was trading at $1 306.75 an ounce.
Oil
Oil prices succumbed to the pressure from fears of a decelerating global economy and record US production on Monday. Opec is scheduled to release its monthly production report later on today. At 19h30 benchmark Brent crude was trading at $61.51 a barrel.
The JSE strengthened on Monday afternoon buoyed by a stellar performance from Naspers, after the market heavyweight tracked an upsurge in Hong Kong-based Tencent ending the day 1.34% higher. At 19h00 the All Share was up 0.31%.
United States
Dow Jones futures enjoyed a day of gains on Monday as fresh trade talks between the US and China began in Beijing, while American lawmakers attempted to bring forth a deal to avoid yet another government shutdown. At 19h45 the S&P 500 was up 0.07%.
Europe
Optimism among investors over a fresh round of trade talks between Beijing and Washington lifted European shared from one-week lows on Monday. At 19h50 the FTSE 100 gained 0.82%.
Hong Kong
Hong Kong stocks traded higher on Monday following a rally in Mainland Chinese shares, as the US and China began another round of bilateral trade talks. The Hang Seng ended the day 0.71% firmer.
Japan
The stock market was closed in commemoration of the National Foundation Day.
Rand
The rand weakened against major global currencies on Monday as investors avoided risk-assets ahead of possible volatility that could be prompted by a deadlock in the US-China trade talks. At 19h15 the rand traded R13.79 against the dollar.
Precious metals
Gold prices plunged on Monday as investors sought the safety of the dollar to offset risks fuelled by the US-China trade dispute, amid an escalation of concerns over a decelerating global economy. At 19h20, Spot gold was trading at $1 306.75 an ounce.
Oil
Oil prices succumbed to the pressure from fears of a decelerating global economy and record US production on Monday. Opec is scheduled to release its monthly production report later on today. At 19h30 benchmark Brent crude was trading at $61.51 a barrel.
Our daily rant..
So as South Africa woke up on Monday morning 11 February 2019 they were greated by thy announcement by ESKOM that stage 2 load shedding will be implemented due to a lack of diesel and water resources. A few hours later ESKOM plunged South Africa into even deeper crisis when it announced stage 4 loadshedding as 7 more power generation units tripped within a 5 hour period. This is what you get when cadres are deployed to run massive complex and critical businesses such as ESKOM, and those in charge are allowed to loot and plunder to their hart's content.
Our JSE All Share index daily performance calendar
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.
The first trading day of February ended in the red. In contrast to January in which every Friday ended the day in the green, so far for February 2019 every Friday has ended in the red. So far the market has declined by -1.37% to be exact during the first 11 days of February 2019. Basically half the gains made in January 2019 has been wiped out so far in February and with load shedding back in full swing in SA we wont be surprised in the stock market turns sour after ESKOM yet again fails to keep the lights on.