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We have to admit running a content website is hard work, especially for a small team looking to build a wider reader base and to develop interesting and informative content is pretty tiring stuff. So we have decided to give readers a taste of PSG's daily investment update that it emails to it's clients.
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Short summary of PSG's market commentary provided daily
South Africa
The JSE all share closed weaker on Friday as global risk-off sentiment continued to affect markets negatively, while US growth again exceeded expectations. In broad-based losses, the All Share closed 1.53% lower.
United States
US GDP growth for the third quarter came in at 3.50%, lower than the previous quarter’s 4.20%, but higher than the predicted 3.30%. The data indicates the US economy is still performing strongly, despite some disappointing housing data released recently. The Dow was 1.70% lower at the JSE’s close.
Europe
European shares were on course for their worst month since 2015 on Friday after a global sell-off hit regional equity markets and missed results expectations sapped risk appetite. The leading index, STOXX fell 1.40%.
Hong Kong
Hong Kong’s main index ended weaker and China’s index closed down on Friday as Beijing’s latest supportive measures for the stock market and economy failed to lift sentiment, leading indices to end the week on a soft tone. At the close of trade, the Hang Seng index was down 1.11%.
Japan
Japanese shares posted their biggest weekly loss in more than eight months on Friday as growing worries over earnings of domestic firms escalated. The Nikkei fell 0.40%.
Rand
The rand was weaker against major global currencies on Friday afternoon, faring worst against the dollar, as investors shied away from risk assets in general. At 20h45 it traded at R14.62/ $.
Precious metalsGold prices were higher on Friday, with investors flocking to safe-haven assets. At 20h45 spot gold was trading at $1 234.68 an ounce.
Oil
Oil prices headed for a third weekly loss on Friday after Saudi Arabia warned of oversupply, while a slump in stock markets and concerns about trade clouded the outlook for fuel demand. Brent crude was trading at $77.71 a barrel at 20h45.
The JSE all share closed weaker on Friday as global risk-off sentiment continued to affect markets negatively, while US growth again exceeded expectations. In broad-based losses, the All Share closed 1.53% lower.
United States
US GDP growth for the third quarter came in at 3.50%, lower than the previous quarter’s 4.20%, but higher than the predicted 3.30%. The data indicates the US economy is still performing strongly, despite some disappointing housing data released recently. The Dow was 1.70% lower at the JSE’s close.
Europe
European shares were on course for their worst month since 2015 on Friday after a global sell-off hit regional equity markets and missed results expectations sapped risk appetite. The leading index, STOXX fell 1.40%.
Hong Kong
Hong Kong’s main index ended weaker and China’s index closed down on Friday as Beijing’s latest supportive measures for the stock market and economy failed to lift sentiment, leading indices to end the week on a soft tone. At the close of trade, the Hang Seng index was down 1.11%.
Japan
Japanese shares posted their biggest weekly loss in more than eight months on Friday as growing worries over earnings of domestic firms escalated. The Nikkei fell 0.40%.
Rand
The rand was weaker against major global currencies on Friday afternoon, faring worst against the dollar, as investors shied away from risk assets in general. At 20h45 it traded at R14.62/ $.
Precious metalsGold prices were higher on Friday, with investors flocking to safe-haven assets. At 20h45 spot gold was trading at $1 234.68 an ounce.
Oil
Oil prices headed for a third weekly loss on Friday after Saudi Arabia warned of oversupply, while a slump in stock markets and concerns about trade clouded the outlook for fuel demand. Brent crude was trading at $77.71 a barrel at 20h45.
Our daily rant..
So the minister of 'Cannot stay out of the news", Malusi Gigaba, went onto twitter to apologise for a leaked video of a sexual nature. Claiming this video was intercepted by his phoned being hacked and that the video was used to try and black mail him? Question is who tried to blackmail him and what exactly did they want? He has been mum on this, but the current Minister of Home Affairs, gave new meaning to "Home Affairs" with the announcement of this video doing the rounds. He just cannot stay out of the news. If its not state capture, or naturalization of the Guptas its this.
Minister of Home Affairs, Malusi Gigaba