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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 28 January 2019
South Africa
The local bourse ended lower on Thursday afternoon as apprehensions over an escalating US-China trade dispute showed no signs of letting up. The All Share was down 0.51% at the close of business.
United States
A batch of better-than-expected earnings from chipmakers helped ease investor concerns over the longest US government shutdown in history, pushing US stocks further up. The S&P 500 ended the day up 0.14%.
Europe
European stocks rallied on Thursday after the release of subdued economic data from France ahead of the European Central Bank's first meeting of the year. At the close of business, the FTSE 100 was down 0.35%.
Hong Kong
Hong Kong stocks traded higher on Thursday tracking an overnight rally on Wall Street, amid concerns over a slowdown in global growth. The Hang Seng ended the day 0.42% in the green.
Japan
Japan’s Nikkei ended somewhat flat on Thursday after index-heavy Fast Retailing posted poor earnings results. The Nikkei share average lost 0.09%.
Rand
Developing world currencies including the rand strengthened against the dollar on Thursday, as risk-taking underpinned most of the day’s session. At 18h30, the rand traded R13.69 against the dollar.
Precious metals
Gold prices surged on Thursday as the metal benefited from a weakened dollar environment, after concerns surfaced that the lengthy US government shutdown might hinder economic growth. Spot gold ended the day on $1 283.03 an ounce.
Oil
Oil prices surged on Thursday after the US announced that it plans to impose sanctions on Venezuela's crude exports. At 18h50, benchmark Brent crude was trading at $61.27 a barrel.
The local bourse ended lower on Thursday afternoon as apprehensions over an escalating US-China trade dispute showed no signs of letting up. The All Share was down 0.51% at the close of business.
United States
A batch of better-than-expected earnings from chipmakers helped ease investor concerns over the longest US government shutdown in history, pushing US stocks further up. The S&P 500 ended the day up 0.14%.
Europe
European stocks rallied on Thursday after the release of subdued economic data from France ahead of the European Central Bank's first meeting of the year. At the close of business, the FTSE 100 was down 0.35%.
Hong Kong
Hong Kong stocks traded higher on Thursday tracking an overnight rally on Wall Street, amid concerns over a slowdown in global growth. The Hang Seng ended the day 0.42% in the green.
Japan
Japan’s Nikkei ended somewhat flat on Thursday after index-heavy Fast Retailing posted poor earnings results. The Nikkei share average lost 0.09%.
Rand
Developing world currencies including the rand strengthened against the dollar on Thursday, as risk-taking underpinned most of the day’s session. At 18h30, the rand traded R13.69 against the dollar.
Precious metals
Gold prices surged on Thursday as the metal benefited from a weakened dollar environment, after concerns surfaced that the lengthy US government shutdown might hinder economic growth. Spot gold ended the day on $1 283.03 an ounce.
Oil
Oil prices surged on Thursday after the US announced that it plans to impose sanctions on Venezuela's crude exports. At 18h50, benchmark Brent crude was trading at $61.27 a barrel.
Our daily rant..
This week is set to be a big earnings week in the US, with companies such as Apple, Amazon, Qualcomm and the likes reporting earnings. And we know the market is eagerly awaiting Apple (AAPL) earnings after they warned on the 2nd of January 2019 that sales of their devices were slower than expected, especially in China. They blamed slowing economic conditions in China and trade war for this
Our JSE All Share index daily performance calendar
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.
For the month of January 2019 so far, the JSE All share index is up by 2.49%. Wednesday the 2nd saw its worse day of the month, while Wednesday the 9th saw the JSE All share record its best performing day of the month so far. Interestingly every Friday so far in January has seen the JSE end of a positive note.