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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 13 March 2019
South Africa
The JSE ended higher on Tuesday, boosted by a firmer rand and positive results released by FirstRand. However, the pending Brexit vote stole investors’ attention. At the close of trade, the All Share was up 0.21%.
United States
The S&P 500 and the Nasdaq continued to enjoy market gains on Tuesday “as February’s benign inflation data supported the Federal Reserve’s patient approach towards further rate hikes”. At 19h40, the Nasdaq traded up 0.55%.
Europe
European markets ended Tuesday flat as hope dwindled that British Prime Minister Theresa May’s Brexit deal would gather enough support at the evening’s vote to lead to an orderly Brexit. The pan-European STOXX 600 index closed 0.06% down.
Hong Kong
The Hong Kong bourse ended Tuesday on a high, lifted by positive sentiment around US-China trade talk progress, as well as top performances by the financial, property and energy sectors. At the end of trade, the Hang Seng was 0.97% higher.
Japan
On Tuesday the Nikkei reached a six-day high, boosted by strong a performance in the US tech sector, and broad-based buying due to a weaker yen. At 19h40, the Nikkei traded 1.79% up.
Rand
On Tuesday the rand gained almost 30 cents on the pound Sterling thanks to reports that some “Eurosceptic” MPs might still vote to reject the latest Brexit terms on Tuesday night. At 19h40, a dollar cost R14.34 and a pound R18.47.
Precious metals
Bullion prices gained some footing on Tuesday after the dollar softened due to weak US consumer price data, and a decline in equity trading before the Brexit vote. At 19h40, an ounce of spot gold was trading at $1 298.22.
Oil
Oil prices continued to climb on Tuesday on the back of Saudi Arabia’s announcement to decrease their oil supply in April, as well as a power outage in Venezuela that halted production. At 19h40, a barrel of Brent crude was trading at $66.60.
The JSE ended higher on Tuesday, boosted by a firmer rand and positive results released by FirstRand. However, the pending Brexit vote stole investors’ attention. At the close of trade, the All Share was up 0.21%.
United States
The S&P 500 and the Nasdaq continued to enjoy market gains on Tuesday “as February’s benign inflation data supported the Federal Reserve’s patient approach towards further rate hikes”. At 19h40, the Nasdaq traded up 0.55%.
Europe
European markets ended Tuesday flat as hope dwindled that British Prime Minister Theresa May’s Brexit deal would gather enough support at the evening’s vote to lead to an orderly Brexit. The pan-European STOXX 600 index closed 0.06% down.
Hong Kong
The Hong Kong bourse ended Tuesday on a high, lifted by positive sentiment around US-China trade talk progress, as well as top performances by the financial, property and energy sectors. At the end of trade, the Hang Seng was 0.97% higher.
Japan
On Tuesday the Nikkei reached a six-day high, boosted by strong a performance in the US tech sector, and broad-based buying due to a weaker yen. At 19h40, the Nikkei traded 1.79% up.
Rand
On Tuesday the rand gained almost 30 cents on the pound Sterling thanks to reports that some “Eurosceptic” MPs might still vote to reject the latest Brexit terms on Tuesday night. At 19h40, a dollar cost R14.34 and a pound R18.47.
Precious metals
Bullion prices gained some footing on Tuesday after the dollar softened due to weak US consumer price data, and a decline in equity trading before the Brexit vote. At 19h40, an ounce of spot gold was trading at $1 298.22.
Oil
Oil prices continued to climb on Tuesday on the back of Saudi Arabia’s announcement to decrease their oil supply in April, as well as a power outage in Venezuela that halted production. At 19h40, a barrel of Brent crude was trading at $66.60.
Our daily update
Yesterday markets across the world was basically sitting back, waiting for the UK parliamentary vote on Theresa May's 'revised' UK Brexit deal. Parliament voted overwhelmingly against it again. So the risk of the UK crashing out of the EU in a "no deal Brexit" is still on the cards as the deadline for the UK leaving the EU approaches fast.
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.
While the JSE All Share has seen two positive trading days in a row, the return provided by it so far for March 2019 is still in negative territory, with the returns for March 2019 being -0.57%. And while there overall returns of the JSE All Share so far in 2019 has been positive (as shown by our 2019 Calendar tracker) we are losing out in Dollar terms. 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