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PSG daily investment update 1 April 2019
Date: 1 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 1 April 2019
South Africa
The local bourse tracked global equity markets on an upward trend on Friday lifted by industrial stocks and Naspers which was set to peak at a seven-month high. At the close of trade, the All Share was up 0.72%.
United States
Reports of progress in the latest round of trade negotiations between the world’s two largest economies boosted US shares on Friday, with the S&P 500 recording its best quarterly performance in over nine years.
Europe
Upbeat reports on the US-Sino trade talks lifted European shares on Friday and prompted a surge in the world’s second largest clothing retailer H&M, following the release of its better-than-expected quarterly results. At 18h40 the pan-European STOXX 600 index was up by 0.52%.
Hong Kong
Hong Kong shares tracked gains from their global counterparts as investors welcomed Beijing’s commitment to ease regulations on financial markets. The Hang Seng ended the day 1.07% in the green.
Japan
The Nikkei jumped on Friday after US officials pointed out signs of progress in the ongoing trade negotiations between the US and China with cyclical sectors ending the Japanese fiscal year on a high note. The Nikkei ended the day 0.82% higher.
Rand
The rand was steady ahead of a Moody’s announcement on the country’s credit rating on Friday afternoon amid a fresh breeze of optimism over progress in the US-China trade negotiations. At 18h55 the rand traded R14.42 against the dollar.
Precious metals
Palladium plunged to its lowest level in over three years as investors expressed concern over demand in the midst of a decelerating global economy. At 29h00 spot gold was trading at $1 295.27 an ounce.
Oil
Oil prices rebounded on Friday on the back of Opec-led supply trims, placing crude markets on track for their most impressive quarterly growth in ten years. At 19h05 a barrel of Brent crude was trading at $68.22.
The local bourse tracked global equity markets on an upward trend on Friday lifted by industrial stocks and Naspers which was set to peak at a seven-month high. At the close of trade, the All Share was up 0.72%.
United States
Reports of progress in the latest round of trade negotiations between the world’s two largest economies boosted US shares on Friday, with the S&P 500 recording its best quarterly performance in over nine years.
Europe
Upbeat reports on the US-Sino trade talks lifted European shares on Friday and prompted a surge in the world’s second largest clothing retailer H&M, following the release of its better-than-expected quarterly results. At 18h40 the pan-European STOXX 600 index was up by 0.52%.
Hong Kong
Hong Kong shares tracked gains from their global counterparts as investors welcomed Beijing’s commitment to ease regulations on financial markets. The Hang Seng ended the day 1.07% in the green.
Japan
The Nikkei jumped on Friday after US officials pointed out signs of progress in the ongoing trade negotiations between the US and China with cyclical sectors ending the Japanese fiscal year on a high note. The Nikkei ended the day 0.82% higher.
Rand
The rand was steady ahead of a Moody’s announcement on the country’s credit rating on Friday afternoon amid a fresh breeze of optimism over progress in the US-China trade negotiations. At 18h55 the rand traded R14.42 against the dollar.
Precious metals
Palladium plunged to its lowest level in over three years as investors expressed concern over demand in the midst of a decelerating global economy. At 29h00 spot gold was trading at $1 295.27 an ounce.
Oil
Oil prices rebounded on Friday on the back of Opec-led supply trims, placing crude markets on track for their most impressive quarterly growth in ten years. At 19h05 a barrel of Brent crude was trading at $68.22.
Our daily update
At the end of last week we took a deeper look into a report published by Statistics South Africa regarding South Africa's food security, in which it focused on the percentage of households active in agricultural activities per province as well as breaking down the numbers to ask of those involved in agricultural activities how many are involved in it as its their main source of food. And the numbers are worrying. Read the 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 for the third month in a row the JSE All Share has ended the month in the red. While the returns in March was lower of that achieved January and February, it was still positive and this has been a very upbeat quarter for the markets. Not only for South African markets but for most other world markets too. The JSE All Share ended March 2019 up by 0.85%.
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
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