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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 June 2019
South Africa
The local bourse followed global markets down on Tuesday due to geopolitical risks and uncertainties. The All Share closed 0.70% in the red.
United States
US indices opened lower on Tuesday, brought down by growing concerns around US-Iran tensions and lagging US-Sino trade discussions. At 18h25, the Nasdaq was trading 0.62% lower.
Europe
On Tuesday, European markets closed down as investors’ fears rose on the back of the increasing tensions between the US and Iran and uncertainty around the trade war. At the end of trade, the pan-European STOXX 600 had lost 0.10%.
Hong Kong
Asian shares suffered on Tuesday as investor anxieties regarding risk-on trade increased on the back of tensions culminating between the US and both China and the Middle East. The Hang Seng closed 0.89% down.
Japan
On Tuesday, the combination of the stronger yen, the tariff dispute between the US and China, and the brewing US-Iran conflict spooked investors and led to Japanese markets closing down. At the end of trade, the Nikkei had lost 0.43%.
Rand
The rand strengthened against major currencies on Tuesday thanks to expectations that the US Fed could cut rates in July, which weighed the dollar down. At 18h25, a dollar cost R14.29.
Precious metals
On Tuesday bullion prices continued their climb, with gold reaching a six-year high, boosted by investors fleeing risky trades due to concerns around the US and Iran, the US-China trade war and a possible softening US monetary stance. At 18h25, an ounce of spot gold traded at $1 429.51.
Oil
Oil prices lifted somewhat on Tuesday as investors awaited US crude data to be released and expected a decline in stock piles. At 18h25, a barrel of Brent crude was trading at $65.38.
The local bourse followed global markets down on Tuesday due to geopolitical risks and uncertainties. The All Share closed 0.70% in the red.
United States
US indices opened lower on Tuesday, brought down by growing concerns around US-Iran tensions and lagging US-Sino trade discussions. At 18h25, the Nasdaq was trading 0.62% lower.
Europe
On Tuesday, European markets closed down as investors’ fears rose on the back of the increasing tensions between the US and Iran and uncertainty around the trade war. At the end of trade, the pan-European STOXX 600 had lost 0.10%.
Hong Kong
Asian shares suffered on Tuesday as investor anxieties regarding risk-on trade increased on the back of tensions culminating between the US and both China and the Middle East. The Hang Seng closed 0.89% down.
Japan
On Tuesday, the combination of the stronger yen, the tariff dispute between the US and China, and the brewing US-Iran conflict spooked investors and led to Japanese markets closing down. At the end of trade, the Nikkei had lost 0.43%.
Rand
The rand strengthened against major currencies on Tuesday thanks to expectations that the US Fed could cut rates in July, which weighed the dollar down. At 18h25, a dollar cost R14.29.
Precious metals
On Tuesday bullion prices continued their climb, with gold reaching a six-year high, boosted by investors fleeing risky trades due to concerns around the US and Iran, the US-China trade war and a possible softening US monetary stance. At 18h25, an ounce of spot gold traded at $1 429.51.
Oil
Oil prices lifted somewhat on Tuesday as investors awaited US crude data to be released and expected a decline in stock piles. At 18h25, a barrel of Brent crude was trading at $65.38.
Our daily update
Yesterday we decided to focus on the valuation of a few of the more well known US listed equities. We completed stock valuations on the following shares listed in the USA yesterday, The Home Depot, United Parcel Service (better known as UPS) and Netflix. Click on the links below to read the valuations
The Home Depot
United Parcel Service
Netflix
The Home Depot
United Parcel Service
Netflix
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 4.82% 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