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PSG daily investment update 17 April 2019
Date: 17 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 17 April 2019
South Africa
A ripple effect of positive global market performance lifted the JSE on Tuesday with Naspers and retailers leading the gains. At 18h40, the All Share had gained 1.14%.
United States
A solid performance by technology shares boosted US markets on Tuesday, countering losses suffered by the Bank of America. Shortly after the JSE closed, the Dow gained 0.13%.
Europe
Positive Chinese economic data boosted European markets on Tuesday, pushing shares towards a five-month high. At 18h20, the pan-European STOXX 600 index was up by 0.15%.
Hong Kong
Hong Kong shares jumped on Tuesday as solid Chinese data signalled stabilisation in the world’s second-largest economy. The Hang Seng ended the day 1.07% in the green.
Japan
The Nikkei peaked at a four-month high on Tuesday after NTT Docomo announced soft mobile carrier service price cuts, easing concerns about a price war. The Nikkei ended the day 0.24% higher
Rand
The rand was steady on Tuesday as volatility eased due to the shortened trading week. At 19h00, the rand traded R14.02 against the dollar.
Precious metals
Gold prices fell on Tuesday as positive economic data from major economies strengthened risk appetite, reducing demand for safe-haven assets. At 19h05, spot gold was trading at $1 274.09 an ounce.
Oil
The threat of higher US inventories and uncertainties over OPEC-led fuel cuts weighed down on oil prices on Tuesday. At 19h10, a barrel of Brent crude was trading at $71.64.
A ripple effect of positive global market performance lifted the JSE on Tuesday with Naspers and retailers leading the gains. At 18h40, the All Share had gained 1.14%.
United States
A solid performance by technology shares boosted US markets on Tuesday, countering losses suffered by the Bank of America. Shortly after the JSE closed, the Dow gained 0.13%.
Europe
Positive Chinese economic data boosted European markets on Tuesday, pushing shares towards a five-month high. At 18h20, the pan-European STOXX 600 index was up by 0.15%.
Hong Kong
Hong Kong shares jumped on Tuesday as solid Chinese data signalled stabilisation in the world’s second-largest economy. The Hang Seng ended the day 1.07% in the green.
Japan
The Nikkei peaked at a four-month high on Tuesday after NTT Docomo announced soft mobile carrier service price cuts, easing concerns about a price war. The Nikkei ended the day 0.24% higher
Rand
The rand was steady on Tuesday as volatility eased due to the shortened trading week. At 19h00, the rand traded R14.02 against the dollar.
Precious metals
Gold prices fell on Tuesday as positive economic data from major economies strengthened risk appetite, reducing demand for safe-haven assets. At 19h05, spot gold was trading at $1 274.09 an ounce.
Oil
The threat of higher US inventories and uncertainties over OPEC-led fuel cuts weighed down on oil prices on Tuesday. At 19h10, a barrel of Brent crude was trading at $71.64.
Our daily update
Yesterday we embattled IT group, EOH's latest financial results and the market's reaction to it. We were however reluctant to place a value on the company shares considering all their corporate issues they need to resolve. A big concern for us with regards to EOH is the fact that goodwill makes up over R3 billion worth of their assets. And with a company who is regularly in the news for all the wrong reasons we wonder if the value of their goodwill will continue to decline, as it dropped by almost R1.2 billion in the last year. Read more about EOH's latest financial results 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.
A very strong start to the first quarter of the month of April 2018 with the JSE All Share Index being up 4.27% since the start of April 2019. Can the JSE All Share index make it 4 positive months in a row? It certainly looks like it is heading in that direction.
This 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
This 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