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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 25 October 2019
South Africa
The JSE fell on Thursday, while global markets waited for the EU’s decision amid speculation that the it may give its verdict on a Brexit extension by Friday. The JSE All Share fell 0.17%.
United States
US stocks opened higher on Thursday, as solid results from Microsoft, Lam Research and Tesla lifted sentiment. However, at 20h30 the Dow traded 0.18% lower.
Europe
With no fireworks from European Central Bank (ECB) chief Mario Draghi's last policy meeting on Thursday, encouraging results from German heavyweights and British drugmaker AstraZeneca drove European stocks to their strongest close since January 2018. Just after the JSE closed, the FTSE 100 had added 0.81%, France’s CAC 40 0.33%, and Germany’s DAX 0.54%.
Hong Kong
Hong Kong stocks closed higher on Thursday, on hopes of more stimulus to support the island city’s faltering growth amid political unrest. The Hang Seng index rose 0.87% at close of trade.
Japan
Japan’s Nikkei rose on Thursday, as investors bought back recently beaten down semiconductor-related shares on optimism for improved corporate earnings. The Nikkei ended up by 0.55%.
Rand
The rand was firmer on Thursday after the ECB kept the refinancing rate steady at 0%, the last announcement for Draghi, who will be replaced as ECB chief by former IMF chief, Christine Lagarde on 1 November. At 20h30, a dollar traded at $14.67.
Precious metals
Gold prices barely moved on Thursday as investors waited for fresh developments on the Sino-US trade front, and clarity on Brexit, after the EU delayed a decision on granting Britain an extension.
Oil
Oil slipped below $61 a barrel on Thursday as concern over the demand outlook offset a surprise drop in US crude inventories and the prospect of further action by Opec and its allies to support the market.
The JSE fell on Thursday, while global markets waited for the EU’s decision amid speculation that the it may give its verdict on a Brexit extension by Friday. The JSE All Share fell 0.17%.
United States
US stocks opened higher on Thursday, as solid results from Microsoft, Lam Research and Tesla lifted sentiment. However, at 20h30 the Dow traded 0.18% lower.
Europe
With no fireworks from European Central Bank (ECB) chief Mario Draghi's last policy meeting on Thursday, encouraging results from German heavyweights and British drugmaker AstraZeneca drove European stocks to their strongest close since January 2018. Just after the JSE closed, the FTSE 100 had added 0.81%, France’s CAC 40 0.33%, and Germany’s DAX 0.54%.
Hong Kong
Hong Kong stocks closed higher on Thursday, on hopes of more stimulus to support the island city’s faltering growth amid political unrest. The Hang Seng index rose 0.87% at close of trade.
Japan
Japan’s Nikkei rose on Thursday, as investors bought back recently beaten down semiconductor-related shares on optimism for improved corporate earnings. The Nikkei ended up by 0.55%.
Rand
The rand was firmer on Thursday after the ECB kept the refinancing rate steady at 0%, the last announcement for Draghi, who will be replaced as ECB chief by former IMF chief, Christine Lagarde on 1 November. At 20h30, a dollar traded at $14.67.
Precious metals
Gold prices barely moved on Thursday as investors waited for fresh developments on the Sino-US trade front, and clarity on Brexit, after the EU delayed a decision on granting Britain an extension.
Oil
Oil slipped below $61 a barrel on Thursday as concern over the demand outlook offset a surprise drop in US crude inventories and the prospect of further action by Opec and its allies to support the market.
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Our daily update
Yesterday we covered the latest JSE trading statistics for the week ended 18 October 2019. Below an extract from that article
JSE Trading Statistics for the week ending 18 October 2019
Number of trades:
Number of trades (2019): 1 643 573
Number of trades (2018): 1 513 027
% change year on year: 8.63%
Volume traded:
Volume traded (2019): 2 000 817 000
Volume of traded (2018): 1 823 905 000
% change year on year: -9.70%
Value of trades:
Value of trades (2019): R103 892 507 000
Value of trades (2018): R102 985 257 000
% change year on year: 0.88%
Foreign purchase/selling:
Net sales/Purchases (2019): -R1 379 452 000
Net sales/Purchases (2018): -R2 886 309 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R86.937 billion
Net sales/Purchases (2018): -R16.999 billion
Read the full article here
JSE Trading Statistics for the week ending 18 October 2019
Number of trades:
Number of trades (2019): 1 643 573
Number of trades (2018): 1 513 027
% change year on year: 8.63%
Volume traded:
Volume traded (2019): 2 000 817 000
Volume of traded (2018): 1 823 905 000
% change year on year: -9.70%
Value of trades:
Value of trades (2019): R103 892 507 000
Value of trades (2018): R102 985 257 000
% change year on year: 0.88%
Foreign purchase/selling:
Net sales/Purchases (2019): -R1 379 452 000
Net sales/Purchases (2018): -R2 886 309 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R86.937 billion
Net sales/Purchases (2018): -R16.999 billion
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 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 1.28%. 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 (unless the UK parliament delays matters and more extensions to the Brexit deadline is required)
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