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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 24 June 2019
South Africa
The JSE ended the week in negative territory on Friday following a sluggish performance by Naspers and as retailers and banks succumbed to structural pressures. Shortly after the closing bell, the All Share lost 0.05%.
United States
US markets retreated on Friday as escalating tensions between the US and Iran spooked investors. At 17h15, the Dow was trading 0.13% in the red.
Europe
A poor performance by healthcare and media stocks dragged European markets through the mud on Friday, amid signs of further fiscus and monetary stimulus by major central banks to support global growth. At 17h30, the pan-European Stoxx 600 lost 0.05%.
Hong Kong
Shares in Hong Kong traded lower on Friday but the overall market posted the biggest weekly gain since November 2018, after the US Federal Reserve (Fed) signalled an interest rate cut as early as next month. At 17h35, the Hang Seng lost 0.27%.
Japan
Japan’s Nikkei came off six-week highs on Friday as investors kept a close eye on new developments from the infamous US-Sino trade talks, while stocks in the mining sector rose on the back of escalating tensions in the Middle East. At the closing bell, the Nikkei lost 0.95%.
Rand
The rand strengthened for a sixth consecutive session on Friday, on track for its best week against the greenback in close to a year. At 17h45, the rand traded R14.33 against the dollar.
Precious metals
Gold prices gravitated towards a six-year high on Friday on the back of dovish commentary from key central banks. At 17h50, spot gold was up trading at $1 400.03 an ounce.
Oil
Oil prices climbed above $65 a barrel on Friday after Iran admitted to shooting down a US military drone, sparking concerns that a US-Iran war would disrupt flows from the Middle East. At 18h00, a barrel of Brent crude was trading at $65.65.
The JSE ended the week in negative territory on Friday following a sluggish performance by Naspers and as retailers and banks succumbed to structural pressures. Shortly after the closing bell, the All Share lost 0.05%.
United States
US markets retreated on Friday as escalating tensions between the US and Iran spooked investors. At 17h15, the Dow was trading 0.13% in the red.
Europe
A poor performance by healthcare and media stocks dragged European markets through the mud on Friday, amid signs of further fiscus and monetary stimulus by major central banks to support global growth. At 17h30, the pan-European Stoxx 600 lost 0.05%.
Hong Kong
Shares in Hong Kong traded lower on Friday but the overall market posted the biggest weekly gain since November 2018, after the US Federal Reserve (Fed) signalled an interest rate cut as early as next month. At 17h35, the Hang Seng lost 0.27%.
Japan
Japan’s Nikkei came off six-week highs on Friday as investors kept a close eye on new developments from the infamous US-Sino trade talks, while stocks in the mining sector rose on the back of escalating tensions in the Middle East. At the closing bell, the Nikkei lost 0.95%.
Rand
The rand strengthened for a sixth consecutive session on Friday, on track for its best week against the greenback in close to a year. At 17h45, the rand traded R14.33 against the dollar.
Precious metals
Gold prices gravitated towards a six-year high on Friday on the back of dovish commentary from key central banks. At 17h50, spot gold was up trading at $1 400.03 an ounce.
Oil
Oil prices climbed above $65 a barrel on Friday after Iran admitted to shooting down a US military drone, sparking concerns that a US-Iran war would disrupt flows from the Middle East. At 18h00, a barrel of Brent crude was trading at $65.65.
Our daily update
The summary below comes from Peregrine Treasury Services weekly market wrap and pertains to South African equities.
The South African equity market gained some momentum on Wednesday in line with global equity markets, with the JSE top 40 closing 0.81% higher on Thursday to trade at 52 960.80 points.
The charge was led by:
Read full weekly review here.
The South African equity market gained some momentum on Wednesday in line with global equity markets, with the JSE top 40 closing 0.81% higher on Thursday to trade at 52 960.80 points.
The charge was led by:
- AngloGold Ashanti (+6.2%)
- Bidvest Group (+2.39%)
- Discovery Holdings(+1.63%)
- Aspen Pharmacare Holdings ( +1.17%)
Read full weekly review 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 after four very positive months on the markets the month of May bucked the trend and saw half the gains made during the first four months of the year on the JSE wiped out in one month. JSE All share index as a whole is up 5.83% so far in June 2019. Reversing the severe losses on the markets in May 2019. And the South African Rand (ZAR) has made a strong come back in recent weeks.
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