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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 18 March 2019
South Africa
The JSE closed the week off in the green, following most global markets, due to a rise in equities on the back of reports that China and the US are making progress regarding the trade negotiations. At the close of trade, the All Share was up 0.45%.
United States
The US markets rose on Friday due to reports that more tariff-talk progress has been made between the US and China, and because of the UK’s Brexit vote on Thursday night. At 17h30, the Dow Jones Industrial traded 0.34% up.
Europe
Friday marked the highest point in five months for European shares thanks to positive sentiment surrounding the US-China trade negotiations, and the UK’s vote to extend the Brexit deadline on Thursday night. The pan-European STOXX 600 index closed 0.68% in the green.
Hong Kong
Asian indices ended the week on a high after China announced its commitment to improve the slowing economy and reports were released showing signs of “substantial progress” concerning the Sino-US trade talks. At the close of business, the Hang Seng was 0.56% higher.
Japan
Japanese companies with Chinese exposure soared on Friday, lifting the Nikkei, due to Beijing’s commitment to increase economic growth and positive sentiment around the Sino-US tariff negotiations. At 17h30, the Nikkei was 0.76% up.
Rand
The rand firmed somewhat on Friday, in line with other emerging markets, on reports that said the US and China made more progress regarding the trade talks. However, analysts warned that the rand could stay volatile “as it reacts to global factors and concerns over the domestic economy”. At 17h30, a dollar cost R14.43 and a pound R19.16.
Precious metals
Bullion prices rose on Friday due to a softer dollar and as investors’ concerns increased around the slowing global economy pushing them towards a safer haven. At 17h30, spot gold traded at $1 303.44 an ounce.
Oil
Although the oil price started Friday strong, concerns around the slowing global economy and the soaring US oil production halted the price gains. At 17h30, Brent crude traded at $66.65 per barrel.
The JSE closed the week off in the green, following most global markets, due to a rise in equities on the back of reports that China and the US are making progress regarding the trade negotiations. At the close of trade, the All Share was up 0.45%.
United States
The US markets rose on Friday due to reports that more tariff-talk progress has been made between the US and China, and because of the UK’s Brexit vote on Thursday night. At 17h30, the Dow Jones Industrial traded 0.34% up.
Europe
Friday marked the highest point in five months for European shares thanks to positive sentiment surrounding the US-China trade negotiations, and the UK’s vote to extend the Brexit deadline on Thursday night. The pan-European STOXX 600 index closed 0.68% in the green.
Hong Kong
Asian indices ended the week on a high after China announced its commitment to improve the slowing economy and reports were released showing signs of “substantial progress” concerning the Sino-US trade talks. At the close of business, the Hang Seng was 0.56% higher.
Japan
Japanese companies with Chinese exposure soared on Friday, lifting the Nikkei, due to Beijing’s commitment to increase economic growth and positive sentiment around the Sino-US tariff negotiations. At 17h30, the Nikkei was 0.76% up.
Rand
The rand firmed somewhat on Friday, in line with other emerging markets, on reports that said the US and China made more progress regarding the trade talks. However, analysts warned that the rand could stay volatile “as it reacts to global factors and concerns over the domestic economy”. At 17h30, a dollar cost R14.43 and a pound R19.16.
Precious metals
Bullion prices rose on Friday due to a softer dollar and as investors’ concerns increased around the slowing global economy pushing them towards a safer haven. At 17h30, spot gold traded at $1 303.44 an ounce.
Oil
Although the oil price started Friday strong, concerns around the slowing global economy and the soaring US oil production halted the price gains. At 17h30, Brent crude traded at $66.65 per barrel.
Our daily update
On Friday we covered Exxaro's latest financial results, and it showed the company had a bumper year, but they did state they are struggling to compete against other coal players in the market such as Colombia, which is concerning for them if other firms are eating away at their market share. They also mentioned declining demand from South Korea, one of their biggest markets. See the full results update from Exxaro 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 last week saw mostly positive trading days for the JSE All Share Index, with 4 of the 5 trading days being positive. The current returns offered by the JSE All Share for March 2019 is sitting at 0.04%. Thus each month so far in 2019 has been in positive terrirory. 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