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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 23 October 2019
South Africa
The JSE closed down on Tuesday as global markets waited for more developments on Brexit. The All Share lost 0.31%.
United States
The S&P 500 and Dow Jones indexes rose on Tuesday, as upbeat earnings reports eased concerns around the fragile US-China trade relationship, but Facebook pressured Nasdaq after the company was hit with an expanded New York-led probe. The Dow was up 0.15% just after the JSE closed.
Europe
Mixed earnings reports kept a lid on European stocks, with London’s midcap index suffering from doubts over whether British lawmakers will back the government’s Brexit bill. The FTSE 100 gained 0.68% after the JSE closed.
Hong Kong
Hong Kong stocks closed higher on Tuesday as investors cheered the prospects of a Sino-US trade deal, though losses in tech and real estate stocks capped gains. The Hang Seng index rose 0.23%.
Japan
Around the region, MSCI’s Asia ex-Japan stock index firmed by 0.36%, while Japan’s Nikkei index was up 0.25% shortly after the JSE closed.
Rand
The rand was firmer on Tuesday as positive sentiment regarding the US-China trade war lifted emerging-market currencies. Chinese vice-foreign minister Le Yucheng said on Tuesday that the two economic superpowers had made some progress in their trade negotiations. A dollar traded at R14.58 at 20h00.
Precious metals
Gold was muted on Tuesday, weighed down by buoyant Asian shares that cheered progress in trade talks between the US and China. At 20h00, an ounce of spot gold traded at $1 485.17.
Oil
Oil prices rose on Tuesday after China signalled progress in trade talks with the US, but gains were capped by bearish forecasts of a build-up in US crude stockpiles. A barrel of Brent crude traded at $59.65 at 20h00.
The JSE closed down on Tuesday as global markets waited for more developments on Brexit. The All Share lost 0.31%.
United States
The S&P 500 and Dow Jones indexes rose on Tuesday, as upbeat earnings reports eased concerns around the fragile US-China trade relationship, but Facebook pressured Nasdaq after the company was hit with an expanded New York-led probe. The Dow was up 0.15% just after the JSE closed.
Europe
Mixed earnings reports kept a lid on European stocks, with London’s midcap index suffering from doubts over whether British lawmakers will back the government’s Brexit bill. The FTSE 100 gained 0.68% after the JSE closed.
Hong Kong
Hong Kong stocks closed higher on Tuesday as investors cheered the prospects of a Sino-US trade deal, though losses in tech and real estate stocks capped gains. The Hang Seng index rose 0.23%.
Japan
Around the region, MSCI’s Asia ex-Japan stock index firmed by 0.36%, while Japan’s Nikkei index was up 0.25% shortly after the JSE closed.
Rand
The rand was firmer on Tuesday as positive sentiment regarding the US-China trade war lifted emerging-market currencies. Chinese vice-foreign minister Le Yucheng said on Tuesday that the two economic superpowers had made some progress in their trade negotiations. A dollar traded at R14.58 at 20h00.
Precious metals
Gold was muted on Tuesday, weighed down by buoyant Asian shares that cheered progress in trade talks between the US and China. At 20h00, an ounce of spot gold traded at $1 485.17.
Oil
Oil prices rose on Tuesday after China signalled progress in trade talks with the US, but gains were capped by bearish forecasts of a build-up in US crude stockpiles. A barrel of Brent crude traded at $59.65 at 20h00.
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Our daily update
The summary below covers the latest financial results of Cartrack as released this morning
Year-on-year highlights
Half-year financial highlights
Year-on-year highlights
- Robust year-on-year subscriber growth of 22% to 1 038 970 (HY19: 849 772)
- Year-on-year net subscriber additions of 189 198 (HY19: 183 350)
Half-year financial highlights
- Subscription revenue up 26% to R897 million (HY19: R710 million)
- Subscription revenue is 96% of the total revenue and growing (HY19: 90%)
- Total revenue up 19% to R938 million (HY19: R788 million)
- Cash generated from operating activities of R446 million (HY19: R262 million), up 70%
- EBITDA of R480 million (HY19: R376 million), up 28%
- EBITDA margin of 51% (HY19: 48%)
- Operating profit of R316 million (HY19: R255 million), up 24%
- Operating profit margin of 34% (HY19: 32%)
- Basic earnings per share ('EPS') of 72,3 cents, up 28%
- Headline EPS ('HEPS') of 72,2 cents, up 28%
- Half-year dividend per share of 20 cents (HY19): 18 cents
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 2.1%. 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