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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 26 July 2019
South Africa
The JSE closed slightly lower on Thursday, tracking European markets after the European Central Bank (ECB) opted to keep its interest rates unchanged. The JSE All Share fell 0.10%.
United States
US markets slid on Thursday after a handful of downbeat earnings pointed to a slowing global economy and as ECB chief Mario Draghi’s comments disappointed investors who were hoping for a more dovish stance. At 17h30, the Dow had fallen 0.31%.
Europe
EU markets dropped yesterday after the ECB signalled that it may loosen monetary policy at future meetings disappointing investors, saying rates will remain at their “present or lower levels” at least throughout the first half of 2020. At 17h30, the France’s CAC 40 was down 0.46% and Germany’s DAX 30 by 1.11%.
Hong Kong
Hong Kong shares ended higher on Thursday, led by information technology firms tracking a tech rally on the Wall Street. The Hang Seng index rose 0.25%.
Japan
Japanese stocks rose on Thursday after Wall Street climbed to record highs, although the gains were modest as investors showed restraint ahead of policy decisions by the ECB later in the day and the Federal Reserve next week. The Nikkei ended the day up 0.22%.
Rand
The rand was weaker on Thursday afternoon, softening a little after the ECB left interest rates unchanged. At 20h15, a dollar traded at R14.07.
Precious metals
Gold prices eased on Thursday as the US dollar hovered near multi-week highs, while some investors locked in profits ahead of major central bank meetings yesterday and next week. At 20h15, an ounce of gold traded at $1 416.58.
Oil
Oil prices rose on Thursday amid tension in the Middle East and a big fall in US crude stocks, but gains were capped as weak western manufacturing data indicated slowing economic growth and the potential for reduced fuel demand. At 20h15, a barrel of Brent crude traded at $63.54.
The JSE closed slightly lower on Thursday, tracking European markets after the European Central Bank (ECB) opted to keep its interest rates unchanged. The JSE All Share fell 0.10%.
United States
US markets slid on Thursday after a handful of downbeat earnings pointed to a slowing global economy and as ECB chief Mario Draghi’s comments disappointed investors who were hoping for a more dovish stance. At 17h30, the Dow had fallen 0.31%.
Europe
EU markets dropped yesterday after the ECB signalled that it may loosen monetary policy at future meetings disappointing investors, saying rates will remain at their “present or lower levels” at least throughout the first half of 2020. At 17h30, the France’s CAC 40 was down 0.46% and Germany’s DAX 30 by 1.11%.
Hong Kong
Hong Kong shares ended higher on Thursday, led by information technology firms tracking a tech rally on the Wall Street. The Hang Seng index rose 0.25%.
Japan
Japanese stocks rose on Thursday after Wall Street climbed to record highs, although the gains were modest as investors showed restraint ahead of policy decisions by the ECB later in the day and the Federal Reserve next week. The Nikkei ended the day up 0.22%.
Rand
The rand was weaker on Thursday afternoon, softening a little after the ECB left interest rates unchanged. At 20h15, a dollar traded at R14.07.
Precious metals
Gold prices eased on Thursday as the US dollar hovered near multi-week highs, while some investors locked in profits ahead of major central bank meetings yesterday and next week. At 20h15, an ounce of gold traded at $1 416.58.
Oil
Oil prices rose on Thursday amid tension in the Middle East and a big fall in US crude stocks, but gains were capped as weak western manufacturing data indicated slowing economic growth and the potential for reduced fuel demand. At 20h15, a barrel of Brent crude traded at $63.54.
Our daily update
Yesterday we looked at the average price per 200 grams of bacon per province in South Africa and we saw significant price increases in the average price of 200 grams of bacon, largely due to the swine flu problems in China causing pork prices to spike
The province that saw the highest increase in the average price of 200 grams of bacon over the last 12 months was Gauteng with a 17.2% increase and KwaZulu-Natal had the lowest increase at 5.1% over the last year, which is still higher than the official inflation rate for June 2019 which came in at 4.5% (see our inflation heat map for more)
The summary below shows the inflation rate of the average price per 200 gram pack of bacon per province for June 2019, sorted from highest to lowest.
Read the full article here
The province that saw the highest increase in the average price of 200 grams of bacon over the last 12 months was Gauteng with a 17.2% increase and KwaZulu-Natal had the lowest increase at 5.1% over the last year, which is still higher than the official inflation rate for June 2019 which came in at 4.5% (see our inflation heat map for more)
The summary below shows the inflation rate of the average price per 200 gram pack of bacon per province for June 2019, sorted from highest to lowest.
- Gauteng: 17.2%
- Western Cape: 16.7%
- Eastern Cape: 14.2%
- Limpopo: 13.6%
- Mpumalanga: 11.5%
- North West: 11.4%
- Free State: 10.1%
- Northern Cape: 5.6%
- KwaZulu-Natal: 5.1%
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 South African stock market is still up substantially for the year, with the only negative months so far being the month of May in which markets pulled back pretty sharply. But the markets rebounded in June with it ending up close to 5% for the month.
The JSE All Share Index is down -0.84% for the month of July 2019. Question is can it get into the green by the end of the month, to make it 6 out of 7 months of 2019 that the JSE All share has ended in positive territory?
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
The JSE All Share Index is down -0.84% for the month of July 2019. Question is can it get into the green by the end of the month, to make it 6 out of 7 months of 2019 that the JSE All share has ended in positive territory?
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