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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 March 2019
South Africa
A series of disappointing earnings reports put the JSE under pressure on Thursday, with the local bourse suffering broad-based losses. The All Share closed lower at 0.53%.
United States
Wall Street’s main indexes struggled for direction on Thursday as an abrupt end to the US-North Korean summit and a clutch of weak earnings hit sentiment. However, better-than-expected GDP data offered some support, with the US economy recording a GDP growth rate of 2.60% year on year for 2018Q4.
Europe
European shares rose for a second consecutive month in February after a choppy session on Thursday when optimism about European banks offset caution over US-China trade. On a monthly basis, European shares rose 3.90% after a 6.20% increase in January.
Hong Kong
Chinese shares ended lower on Thursday on concerns about Sino-US trade and slowing growth, but the country’s main stock indexes posted their biggest monthly gains in nearly four years on investor hopes for government stimulus and policy support. At the close, the Shanghai Composite index was down 0.44%.
Japan
The Nikkei fell on Thursday as hopes for progress in US-China trade negotiations receded and as data showed the biggest decline in Japanese factory output in a year, dragging down cyclical stocks. The Nikkei ended 0.80% lower.
Rand
Disappointing Chinese economic data and an early end to the US-North Korea summit weakened the rand on Thursday. At 21h00 the rand traded at R14.05/$.
Precious metals
Gold prices held steady on Thursday as the dollar recouped losses after cautious comments from US trade representative Robert Lighthizer dented investors’ hopes for a closure to the tariff war with China. At 21h00 an ounce of gold traded at $1 314.01.
Oil
Oil prices dipped on Thursday, dragged down by weakening factory output in China and Japan, and record US crude output. A barrel of Brent crude traded at $66.03 at 21h00.
A series of disappointing earnings reports put the JSE under pressure on Thursday, with the local bourse suffering broad-based losses. The All Share closed lower at 0.53%.
United States
Wall Street’s main indexes struggled for direction on Thursday as an abrupt end to the US-North Korean summit and a clutch of weak earnings hit sentiment. However, better-than-expected GDP data offered some support, with the US economy recording a GDP growth rate of 2.60% year on year for 2018Q4.
Europe
European shares rose for a second consecutive month in February after a choppy session on Thursday when optimism about European banks offset caution over US-China trade. On a monthly basis, European shares rose 3.90% after a 6.20% increase in January.
Hong Kong
Chinese shares ended lower on Thursday on concerns about Sino-US trade and slowing growth, but the country’s main stock indexes posted their biggest monthly gains in nearly four years on investor hopes for government stimulus and policy support. At the close, the Shanghai Composite index was down 0.44%.
Japan
The Nikkei fell on Thursday as hopes for progress in US-China trade negotiations receded and as data showed the biggest decline in Japanese factory output in a year, dragging down cyclical stocks. The Nikkei ended 0.80% lower.
Rand
Disappointing Chinese economic data and an early end to the US-North Korea summit weakened the rand on Thursday. At 21h00 the rand traded at R14.05/$.
Precious metals
Gold prices held steady on Thursday as the dollar recouped losses after cautious comments from US trade representative Robert Lighthizer dented investors’ hopes for a closure to the tariff war with China. At 21h00 an ounce of gold traded at $1 314.01.
Oil
Oil prices dipped on Thursday, dragged down by weakening factory output in China and Japan, and record US crude output. A barrel of Brent crude traded at $66.03 at 21h00.
Our daily rant..
A pretty quiet day on the JSE yesterday. New "dog" of the JSE, Steinhoff provided a quarterly update. To be honest we didn't read it as we are not sure if anything contained in it is true or not. With all the fraud and shady dealings there one can never be to sure.
Operator of the Johannesburg Stock Exchange (JSE), the JSE Ltd reported earnings yesterday including a special dividend which makes the full year dividends for 2018 including the special dividend R8.40 for the year. Which puts them on a dividend yield of 5%
Operator of the Johannesburg Stock Exchange (JSE), the JSE Ltd reported earnings yesterday including a special dividend which makes the full year dividends for 2018 including the special dividend R8.40 for the year. Which puts them on a dividend yield of 5%
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.
The first trading day of February ended in the red. In contrast to January in which every Friday ended the day in the green. So for the month of February the JSE All Share increased by 3.42%. So two consecutive months of positive returns on the JSE All Share Index. We saw the listing of MultiChoice on the JSE and loads of active trading taking place in the stock so far. We are however not very optimistic regarding their future, with competition from Amazon, Netflix and a host of other pay per view services. Their core money maker DSTV has been losing subscribers by the thousands every month. So a word of caution for investors looking to buy MultiChoice, dont buy into the hype and follow the herd mentality. Think twice before buying them.