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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 2 July 2019
South Africa
The local bourse benefitted from easing trade tensions between the US and China, closing 0.46% in the green on Monday.
United States
US stocks climbed on Monday, fuelled by gains in technology stocks on optimism for progress in US-China trade talks and signs of a likely reprieve for Chinese telecom company Huawei. At 20h30, the Nasdaq was up by 0.73%.
Europe
European shares surged on Monday, led by trade-sensitive technology stocks after the US and China agreed to restart trade negotiations. At 20h30, the DAX was up by 0.99%.
Hong Kong
US President Donald Trump’s decision to allow US firms to sell “high tech” products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker on Monday. The Shanghai Index traded 2.22% in the green at 20h30.
Japan
The Nikkei jumped over 2% yesterday as risk sentiment improved after the US and China agreed to restart trade talks, while tech shares also got a lift on an easing of restrictions on Huawei. The Nikkei share average ended up 2.13%.
Rand
The rand was slightly weaker against the dollar on Monday afternoon, giving up earlier gains, as markets continued to digest a ceasefire in the US-China trade war. At 20h30, a dollar traded at R14.14.
Precious metals
Gold prices fell on Monday as the dollar rallied after the US and China agreed to restart trade talks, boosting investor appetite for riskier assets. At 20h30, an ounce of spot gold traded at $1 384.34.
Oil
Oil prices rose over $2 a barrel on Monday as Opec and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. A barrel of Brent crude traded at $65.76 at 20h30.
The local bourse benefitted from easing trade tensions between the US and China, closing 0.46% in the green on Monday.
United States
US stocks climbed on Monday, fuelled by gains in technology stocks on optimism for progress in US-China trade talks and signs of a likely reprieve for Chinese telecom company Huawei. At 20h30, the Nasdaq was up by 0.73%.
Europe
European shares surged on Monday, led by trade-sensitive technology stocks after the US and China agreed to restart trade negotiations. At 20h30, the DAX was up by 0.99%.
Hong Kong
US President Donald Trump’s decision to allow US firms to sell “high tech” products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker on Monday. The Shanghai Index traded 2.22% in the green at 20h30.
Japan
The Nikkei jumped over 2% yesterday as risk sentiment improved after the US and China agreed to restart trade talks, while tech shares also got a lift on an easing of restrictions on Huawei. The Nikkei share average ended up 2.13%.
Rand
The rand was slightly weaker against the dollar on Monday afternoon, giving up earlier gains, as markets continued to digest a ceasefire in the US-China trade war. At 20h30, a dollar traded at R14.14.
Precious metals
Gold prices fell on Monday as the dollar rallied after the US and China agreed to restart trade talks, boosting investor appetite for riskier assets. At 20h30, an ounce of spot gold traded at $1 384.34.
Oil
Oil prices rose over $2 a barrel on Monday as Opec and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. A barrel of Brent crude traded at $65.76 at 20h30.
Our daily update
Bidcorp announced over SENS yesterday that JP Morgan Chase & co now holds over 10% of the group's issued share capital. One wonders if they still see value in the group's shares as we think at its current price Bidcorp is close to fully valued.
Read the full article here
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.
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