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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 21 October 2019
South Africa
The JSE edged lower on Friday following the release of disappointing third quarter GDP data from China, fuelling fears of a slowing global economy. At the closing bell, the JSE All Share lost 0.48%.
United States
Wall Street was on track for a weekly gain on Friday, but a disappointing performance by heavyweight Johnson & Johnson dragged the Dow and S&P 500 indexes. Both lost 0.95% and 0.39% respectively.
Europe
Poor earnings reports dragged European shares on Friday, rounding off an eventful week that left investors seeking new catalysts from Brexit and the US-China trade war. After the JSE closed, the FTSE 100 Index lost 0.44% while the DAX and CAC 40 also made losses of 0.17% and 0.65% respectively.
Hong Kong
Chinese and Hong Kong stocks fell on Friday after the release of a disappointing Chinese GDP growth rate. The economy advanced 6% y/y in the third quarter, slowing from a 6.20% expansion in the previous quarter. The Hang Seng closed 0.48% in the red.
Japan
Japan’s Nikkei surged to a 10-month high on Friday after technology stocks soared on upbeat earnings from Taiwan’s TSMC. At 19h40, the Nikkei recorded a 0.18% gain.
Rand
The rand firmed on Friday as investors waited to hear government’s plan to rescue Eskom. At 19h45, a dollar traded at R14.76.
Precious metals
Gold prices soared on Friday as less-than-inspiring Chinese GDP data fanned concerns of the extent of a protracted trade war on global economies. An ounce of spot gold traded at $1 490.23 at 19h50.
Oil
Oil prices were mixed on Friday on bullish signals from both the Chinese and US refining sectors, while slowing global growth concerns dragged the markets. At 20h00, a barrel of Brent crude traded at $59.56.
The JSE edged lower on Friday following the release of disappointing third quarter GDP data from China, fuelling fears of a slowing global economy. At the closing bell, the JSE All Share lost 0.48%.
United States
Wall Street was on track for a weekly gain on Friday, but a disappointing performance by heavyweight Johnson & Johnson dragged the Dow and S&P 500 indexes. Both lost 0.95% and 0.39% respectively.
Europe
Poor earnings reports dragged European shares on Friday, rounding off an eventful week that left investors seeking new catalysts from Brexit and the US-China trade war. After the JSE closed, the FTSE 100 Index lost 0.44% while the DAX and CAC 40 also made losses of 0.17% and 0.65% respectively.
Hong Kong
Chinese and Hong Kong stocks fell on Friday after the release of a disappointing Chinese GDP growth rate. The economy advanced 6% y/y in the third quarter, slowing from a 6.20% expansion in the previous quarter. The Hang Seng closed 0.48% in the red.
Japan
Japan’s Nikkei surged to a 10-month high on Friday after technology stocks soared on upbeat earnings from Taiwan’s TSMC. At 19h40, the Nikkei recorded a 0.18% gain.
Rand
The rand firmed on Friday as investors waited to hear government’s plan to rescue Eskom. At 19h45, a dollar traded at R14.76.
Precious metals
Gold prices soared on Friday as less-than-inspiring Chinese GDP data fanned concerns of the extent of a protracted trade war on global economies. An ounce of spot gold traded at $1 490.23 at 19h50.
Oil
Oil prices were mixed on Friday on bullish signals from both the Chinese and US refining sectors, while slowing global growth concerns dragged the markets. At 20h00, a barrel of Brent crude traded at $59.56.
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Our daily update
Calgro M3 holdings reported interim results for the 6 months ended 31 October 2019
Below a few of the highlights as reported by the group.
Below a few of the highlights as reported by the group.
- Revenue decreased by 17.2% to R520.8 million (August 2018: R628.6 million)
- Headline earnings decreased by 202.5% to a headline loss of R4.1 million (August 2018: R4.0 million profit)
- Headline earnings per share decreased by 204.2% to a loss of 3.24 cents (August 2018: 3.11 cents profit)
- Earnings per share decreased by 106.1% to a loss of 1.46 cents (August 2018: 23.78 cents profit)
- Net asset value decreased marginally over the period by 0.3% to R804.1 million from R806.6 million at 28 February 2019
-
No dividend has been declared for the six months ended 31 August 2019
(August 2018: Nil)
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 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 1.71%. 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 and it looks like the UK might be striking a deal with the EU to leave the EU. Seems Brexit might finally be happening
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
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