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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 12 June 2019
South Africa
Improved global sentiment regarding equity trades and the strong performance by mining shares lifted the local market on Tuesday. The All Share closed 0.49% in the green.
United States
US indices opened slightly higher on Tuesday on signs of fresh stimulus in the Chinese economy and easing tensions around the US-Mexican trade negotiations. At 21h15, the Nasdaq was down 0.03%.
Europe
On Tuesday, European markets enjoyed a third day of gains boosted by German shares rallying and the resource sector being lifted by positivity around the Chinese economy. The STOXX 600 closed 0.69% higher.
Hong Kong
Despite investors still being wary of the US-China trade dispute, Chinese shares rose on Tuesday on the back of Beijing easing “financing rules to boost local government spending on public works.” The Shanghai Index ended 2.58% in the green.
Japan
Japanese stocks endured a day of choppy trade on Tuesday as exporters and cyclical shares performed well but defensive shares underperformed. The benchmark Nikkei rose by 0.33%.
Rand
The rand continued to climb on Tuesday lifted by reports of an immigration agreement between the US and Mexico and as local political unrest calmed somewhat. At 21h15, a dollar traded for R14.67.
Precious metals
Although gold prices fell on Tuesday due to investors craving riskier assets, silver and palladium rose somewhat. At 21h15, an ounce of spot gold traded at $1 326.77.
Oil
Oil prices were flat on Tuesday, weighed down by concerns around a slowing global economy, but raised by prospects that OPEC could extend production cuts. At 21h15, a barrel of Brent crude traded at $63.
Improved global sentiment regarding equity trades and the strong performance by mining shares lifted the local market on Tuesday. The All Share closed 0.49% in the green.
United States
US indices opened slightly higher on Tuesday on signs of fresh stimulus in the Chinese economy and easing tensions around the US-Mexican trade negotiations. At 21h15, the Nasdaq was down 0.03%.
Europe
On Tuesday, European markets enjoyed a third day of gains boosted by German shares rallying and the resource sector being lifted by positivity around the Chinese economy. The STOXX 600 closed 0.69% higher.
Hong Kong
Despite investors still being wary of the US-China trade dispute, Chinese shares rose on Tuesday on the back of Beijing easing “financing rules to boost local government spending on public works.” The Shanghai Index ended 2.58% in the green.
Japan
Japanese stocks endured a day of choppy trade on Tuesday as exporters and cyclical shares performed well but defensive shares underperformed. The benchmark Nikkei rose by 0.33%.
Rand
The rand continued to climb on Tuesday lifted by reports of an immigration agreement between the US and Mexico and as local political unrest calmed somewhat. At 21h15, a dollar traded for R14.67.
Precious metals
Although gold prices fell on Tuesday due to investors craving riskier assets, silver and palladium rose somewhat. At 21h15, an ounce of spot gold traded at $1 326.77.
Oil
Oil prices were flat on Tuesday, weighed down by concerns around a slowing global economy, but raised by prospects that OPEC could extend production cuts. At 21h15, a barrel of Brent crude traded at $63.
Our daily update
We covered the latest electricity usage per province in South Africa yesterday. And Gauteng is by far the biggest user of electricity (with it using roughly 25% of SA's power) , with KwaZulu-Natal being the second biggest user of electricity in South Africa (around 18%). And it is no real surprise that the Northern Cape is the province that uses the least amount of power in South Africa.
Read the full article here
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 5.5% during the first week and a half 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