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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 14 June 2019
South Africa
Disappointing local mining data was offset by a rising oil price on Thursday, not giving the local bourse much direction. The JSE closed flat, with 0.02% in the red.
United States
Stocks opened higher in the US on Thursday as energy shares gained on higher oil prices following suspected attacks on two tankers in the Gulf of Oman. At 18h10, the S&P 500 was up by 0.18%.
Europe
The completion of Germany’s 5G mobile spectrum auction caused a surge in telecom shares on Thursday, helping other markets in the region. The pan-European STOXX 600 index closed 0.16% higher.
Hong Kong
Shares in Hong Kong closed flat on Thursday amid street protests, thanks to gains in real estate firms and mainland money flows. The Hang Seng was flat at 0.01%.
Japan
The Nikkei dropped yesterday as the US-China trade dispute and geopolitical risks dampened sentiment. The Nikkei closed 0.46% in the red.
Rand
The rand was flat against the dollar on Thursday afternoon, as geopolitical events continue to drive market sentiment. At 18h10, a dollar traded for R14.88.
Precious metals
Gold prices rose on Thursday after soft inflation data supported expectations of an interest rate cut by the US Federal Reserve next week. At 18h10 an ounce of gold traded at $1 339.06.
Oil
Oil prices jumped on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz fanned fears of a possible faceoff between the US and Iran. About a fifth of global oil consumption passes through this gulf. At 18h10, a barrel of Brent crude traded at $61.77.
Disappointing local mining data was offset by a rising oil price on Thursday, not giving the local bourse much direction. The JSE closed flat, with 0.02% in the red.
United States
Stocks opened higher in the US on Thursday as energy shares gained on higher oil prices following suspected attacks on two tankers in the Gulf of Oman. At 18h10, the S&P 500 was up by 0.18%.
Europe
The completion of Germany’s 5G mobile spectrum auction caused a surge in telecom shares on Thursday, helping other markets in the region. The pan-European STOXX 600 index closed 0.16% higher.
Hong Kong
Shares in Hong Kong closed flat on Thursday amid street protests, thanks to gains in real estate firms and mainland money flows. The Hang Seng was flat at 0.01%.
Japan
The Nikkei dropped yesterday as the US-China trade dispute and geopolitical risks dampened sentiment. The Nikkei closed 0.46% in the red.
Rand
The rand was flat against the dollar on Thursday afternoon, as geopolitical events continue to drive market sentiment. At 18h10, a dollar traded for R14.88.
Precious metals
Gold prices rose on Thursday after soft inflation data supported expectations of an interest rate cut by the US Federal Reserve next week. At 18h10 an ounce of gold traded at $1 339.06.
Oil
Oil prices jumped on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz fanned fears of a possible faceoff between the US and Iran. About a fifth of global oil consumption passes through this gulf. At 18h10, a barrel of Brent crude traded at $61.77.
Our daily update
Motor Trade sales released yesterday by Statistics South Africa showed the following growth for the various motor trade categories:
Read the full article here
- Fuel sales: 11.65%
- Sales of accessories: 11.65%
- Total: 10.38%
- New vehicle sales: 10.17%
- Used vehicle sales: 9.95%
- Workshop income : 8.16%
- Convenient store sales: 1.48%
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. so th 8th trading day of June ended up being the first negative trading day for the JSE All Share Index and it was marginally in the red. The JSE All Share Index is still up 5.43% so far in 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