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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 3 July 2019
South Africa
The JSE was under pressure on Tuesday fuelled by an escalation in trade tension between the US and Europe, as well as the release of weak economic data around the globe. The All Share fell 0.65%.
United States
Wall Street edged lower on Tuesday, as optimism over the US-China trade truce stalled after the US threatened tariffs on additional European goods. The Dow was flat at 0.07% at 19h30.
Europe
European shares rose yesterday as investors brushed aside US President Donald Trump’s threat to impose tariffs on an additional $4 billion of EU goods. The FTSE 100 closed up 0.82%.
Hong Kong
Hong Kong shares closed higher on Tuesday, while doubts whether Washington and Beijing can pull off a trade deal capped gains. The Hang Seng index ended up 1.57%.
Japan
Japanese stocks eked out modest gains on Tuesday as investors were more cautious after the previous day’s relief rally over US-China trade talks. The Nikkei ended the day up 0.11%.
Rand
Poor manufacturing data from the US, UK and the EU, which could point to looser monetary policy from global central banks, did not give the rand much direction yesterday. The rand traded at R14.10/$ at 20h00.
Precious metals
Gold prices rose on Tuesday, as risk appetite declined on worries over global growth and uncertainties around a US-EU trade deal. An ounce of gold cost $1 407.29 at 20h00.
Oil
Oil prices slipped yesterday as concerns that the global economy could be slowing outweighed an agreement by oil cartel Opec on Monday to extend supply cuts until next March. At 20h00, a barrel of Brent crude traded for $63.91.
The JSE was under pressure on Tuesday fuelled by an escalation in trade tension between the US and Europe, as well as the release of weak economic data around the globe. The All Share fell 0.65%.
United States
Wall Street edged lower on Tuesday, as optimism over the US-China trade truce stalled after the US threatened tariffs on additional European goods. The Dow was flat at 0.07% at 19h30.
Europe
European shares rose yesterday as investors brushed aside US President Donald Trump’s threat to impose tariffs on an additional $4 billion of EU goods. The FTSE 100 closed up 0.82%.
Hong Kong
Hong Kong shares closed higher on Tuesday, while doubts whether Washington and Beijing can pull off a trade deal capped gains. The Hang Seng index ended up 1.57%.
Japan
Japanese stocks eked out modest gains on Tuesday as investors were more cautious after the previous day’s relief rally over US-China trade talks. The Nikkei ended the day up 0.11%.
Rand
Poor manufacturing data from the US, UK and the EU, which could point to looser monetary policy from global central banks, did not give the rand much direction yesterday. The rand traded at R14.10/$ at 20h00.
Precious metals
Gold prices rose on Tuesday, as risk appetite declined on worries over global growth and uncertainties around a US-EU trade deal. An ounce of gold cost $1 407.29 at 20h00.
Oil
Oil prices slipped yesterday as concerns that the global economy could be slowing outweighed an agreement by oil cartel Opec on Monday to extend supply cuts until next March. At 20h00, a barrel of Brent crude traded for $63.91.
Our daily update
We will just leave the following statement here. The South African government doesn't have an income problem, it has a spending problem. It earns more than enough in the way of taxes collected. But its spending is extremely inefficient and it wastes a lot of money in the process of delivering its duties.
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