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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 25 April 2019
South Africa
Wednesday was a bleak day for the local market, which was dragged down by a soft rand and poor consumer and business confidence reports released on the first quarter. At the close of trade, the All Share was 0.73% in the negative.
United States
In the US, indices opened flat on Wednesday due to pressure from mixed earnings results from industrials such as Boeing and Caterpillar. Just after the JSE closed, the Dow Jones and the S&P 500 were 0.06% down.
Europe
It was a mixed Wednesday for European markets because of a surge in technology shares that boosted the DAX while other indices were weighed down by a fall in crude prices. At close of business, the STOXX 600 was 0.37% lower while the DAX traded 0.63% up.
Hong Kong
Despite an increase in the property and IT sectors on Wednesday, the Hang Seng closed 0.53% in the red due to a drop in financials and the energy sector.
Japan
After a choppy trading day, Japan’s Nikkei closed somewhat flat on Wednesday ahead of Nissan’s fiscal report being released; this after the company announced it is cutting its earnings outlook. The Nikkei ended the day 0.27% in the red.
Rand
On Wednesday, the local currency logged its longest losing streak in five months when it fell for a fifth consecutive session due to investor concerns around a slowing global economy. At 18h40, the rand traded R14.43 against the dollar and R16.12 against the euro.
Precious metals
The price of gold ended its losing streak on Wednesday, just before it reached a four-month low. Although it can be ascribed to investors searching for a safer heaven, some believe the increase is due to the previous day’s “hard sell-off”. At 18h40, an ounce of spot gold was trading at $1 275.92.
Oil
The oil price steadied on Wednesday after data showed an increase in US stockpiles, which offset OPEC’s plan to cut supply and US sanctions on Venezuela and Iran. At 18h40, a barrel of Brent crude was trading at $74.54.
Wednesday was a bleak day for the local market, which was dragged down by a soft rand and poor consumer and business confidence reports released on the first quarter. At the close of trade, the All Share was 0.73% in the negative.
United States
In the US, indices opened flat on Wednesday due to pressure from mixed earnings results from industrials such as Boeing and Caterpillar. Just after the JSE closed, the Dow Jones and the S&P 500 were 0.06% down.
Europe
It was a mixed Wednesday for European markets because of a surge in technology shares that boosted the DAX while other indices were weighed down by a fall in crude prices. At close of business, the STOXX 600 was 0.37% lower while the DAX traded 0.63% up.
Hong Kong
Despite an increase in the property and IT sectors on Wednesday, the Hang Seng closed 0.53% in the red due to a drop in financials and the energy sector.
Japan
After a choppy trading day, Japan’s Nikkei closed somewhat flat on Wednesday ahead of Nissan’s fiscal report being released; this after the company announced it is cutting its earnings outlook. The Nikkei ended the day 0.27% in the red.
Rand
On Wednesday, the local currency logged its longest losing streak in five months when it fell for a fifth consecutive session due to investor concerns around a slowing global economy. At 18h40, the rand traded R14.43 against the dollar and R16.12 against the euro.
Precious metals
The price of gold ended its losing streak on Wednesday, just before it reached a four-month low. Although it can be ascribed to investors searching for a safer heaven, some believe the increase is due to the previous day’s “hard sell-off”. At 18h40, an ounce of spot gold was trading at $1 275.92.
Oil
The oil price steadied on Wednesday after data showed an increase in US stockpiles, which offset OPEC’s plan to cut supply and US sanctions on Venezuela and Iran. At 18h40, a barrel of Brent crude was trading at $74.54.
Our daily update
Yesterday we covered the latest FNB/BER consumer confidence numbers and the story it tells about the South African consumer is not a good one. But it is no real surprise that consumer confidence in Q1:2019 took a beating. We had load shedding, higher sin taxes and fuel levies announced in the budget speech, a weaker exchange rate and higher oil prices which lead to higher fuel prices. All leading to consumers in SA struggling more and more. Read the full 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 the JSE All Share Index has increased by 4.61% for the month of April 2019. This is by far the strongest showing of any of the months of 2019 and the JSE All Share Index looks set to provide investors with four straight months of positive returns. See our 2019 Calendar tracker for more.
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
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