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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 16 October 2019
South Africa
A stellar performance by gold miners boosted the local bourse on Tuesday, while investors cheered a possible Brexit deal that could materialise by the end of this week. At the closing bell, the JSE All Share gained 0.93%.
United States
Talks of a congressional bill linked to the Hong Kong protests weighed on US indices on Wednesday as investors feared that it could cause more friction between the two superpowers. Just after the JSE closed, the S&P 500 and the Nasdaq lost 0.22% and 0.37% respectively.
Europe
European stocks fell on Wednesday in thin trade as Brexit talks kept investors from making hurried decisions. Shortly after the JSE closed, France’s CAC 40 Index lost 0.09% while the FTSE 100 lost 0.61%.
Hong Kong
Hong Kong indices rose to a 1-month high on Wednesday following an uptick in property stocks after plans were announced to address the housing shortage in mainland China. The Hang Seng closed 0.61% in the green.
Japan
The Nikkei eased from a 5-month high on Wednesday as investors waited to see if talks in Brussels would end in a deal that would allow a smooth British exit from the European Union. The Nikkei ended the day with a 1.20% gain.
Rand
The rand lost over 1% against major global currencies on Wednesday after Eskom resumed stage 2 of its load-shedding schedule following a seven-month hiatus. Moody’s warned that Eskom’s financial situation impedes economic growth and could result in a credit rating downgrade. At 19h00, a dollar traded at R14.92.
Precious metals
Gold prices rose on Wednesday as European shares fell on uncertainties surrounding Brexit while palladium logged a new record on restricted supplies. An ounce of spot gold traded at $1 498.85 at 19h15.
Oil
Hopes of a smooth Brexit agreement boosted oil prices on Wednesday while Opec stuck to its promise to balance markets beyond 2020 in the event of further supply cuts. At 19h30, a barrel of Brent crude traded at $59.74.
A stellar performance by gold miners boosted the local bourse on Tuesday, while investors cheered a possible Brexit deal that could materialise by the end of this week. At the closing bell, the JSE All Share gained 0.93%.
United States
Talks of a congressional bill linked to the Hong Kong protests weighed on US indices on Wednesday as investors feared that it could cause more friction between the two superpowers. Just after the JSE closed, the S&P 500 and the Nasdaq lost 0.22% and 0.37% respectively.
Europe
European stocks fell on Wednesday in thin trade as Brexit talks kept investors from making hurried decisions. Shortly after the JSE closed, France’s CAC 40 Index lost 0.09% while the FTSE 100 lost 0.61%.
Hong Kong
Hong Kong indices rose to a 1-month high on Wednesday following an uptick in property stocks after plans were announced to address the housing shortage in mainland China. The Hang Seng closed 0.61% in the green.
Japan
The Nikkei eased from a 5-month high on Wednesday as investors waited to see if talks in Brussels would end in a deal that would allow a smooth British exit from the European Union. The Nikkei ended the day with a 1.20% gain.
Rand
The rand lost over 1% against major global currencies on Wednesday after Eskom resumed stage 2 of its load-shedding schedule following a seven-month hiatus. Moody’s warned that Eskom’s financial situation impedes economic growth and could result in a credit rating downgrade. At 19h00, a dollar traded at R14.92.
Precious metals
Gold prices rose on Wednesday as European shares fell on uncertainties surrounding Brexit while palladium logged a new record on restricted supplies. An ounce of spot gold traded at $1 498.85 at 19h15.
Oil
Hopes of a smooth Brexit agreement boosted oil prices on Wednesday while Opec stuck to its promise to balance markets beyond 2020 in the event of further supply cuts. At 19h30, a barrel of Brent crude traded at $59.74.
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Our daily update
Yesterday we covered something a little different. ICE Africa. Below a short extract from the article regarding ICE Africa and Euro Games Technology.
Created to shine a light on the continent’s gaming ecosystem, ICE is Africa’s only B2B gaming event. Attended by over 80 local and international business suppliers, it is intended to drive commercial growth and help industry officials to fully capitalise on the nation’s market potential.
Read the full article here
Created to shine a light on the continent’s gaming ecosystem, ICE is Africa’s only B2B gaming event. Attended by over 80 local and international business suppliers, it is intended to drive commercial growth and help industry officials to fully capitalise on the nation’s market potential.
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.
While the month of August was negative by -1.73% lets see what the month of September holds for the South African stock market.
So for the month September 2019 the JSE All Share Index ended the month down -2.01%. Midway through the trading month of October 2019 and the JSE All Share Index is up by 2.36%. Question is whether it can hold on to the gains made for the rest of the month. There seems to be a softening of the trade wars rhetoric as both the USA and China looks to avoid further damage being caused to their economies
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
So for the month September 2019 the JSE All Share Index ended the month down -2.01%. Midway through the trading month of October 2019 and the JSE All Share Index is up by 2.36%. Question is whether it can hold on to the gains made for the rest of the month. There seems to be a softening of the trade wars rhetoric as both the USA and China looks to avoid further damage being caused to their economies
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