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PSG daily investment update 4 April 2019
Date: 4 April 2019 Category: Stock Market |
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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 4 April 2019
South Africa
The local bourse enjoyed a mid-week high on Wednesday due to the strong performance by miners and positivity around the US-China tariff deal nearing completion. The All Share closed up 1.34%.
United States
US shares started Wednesday in the green, boosted by new indications of China’s economic recovery, and positive feedback from trade negotiators. At 21h15, the Nasdaq was up by 0.50%.
Europe
On Wednesday European indices rose for the fourth session in a row, thanks to positive sentiment due to a potential US-Sino trade deal, strong economic data and hopes of a smooth Brexit. The pan-European STOXX 600 index closed 1.01% higher.
Hong Kong
Asian indexes enjoyed a positive Wednesday due to encouraging reports indicating that the trade negotiations between China and the US have almost reached a consensus as well as evidence that China’s economy is recovering. Both the Hang Seng and the Shanghai indexes closed up by over 1%.
Japan
Japanese markets were lifted on Wednesday by Fast Retailing’s phenomenal monthly sales reports, and trade-war negotiation optimism boosting cyclical shares. At the end of business, the Nikkei was 0.97% in the green.
Rand
On Wednesday, the rand was once again a top performing emerging market currency as it was boosted by favourable Chinese data. At 21h15, the rand traded R14.13 to the dollar.
Precious metals
Although gold prices rose on Wednesday, gains were capped by the US and China possibly reaching a trade deal and the strong economic data released by the two superpowers. At 21h15, spot gold was trading at $1 290.62 an ounce.
Oil
Despite data revealing that the US oil inventories are larger, the oil price held steady near $70 as Opec cut output and the sanctions on Iran lowered supply expectations. At 21h15, Brent crude was trading at $69.94 per barrel.
The local bourse enjoyed a mid-week high on Wednesday due to the strong performance by miners and positivity around the US-China tariff deal nearing completion. The All Share closed up 1.34%.
United States
US shares started Wednesday in the green, boosted by new indications of China’s economic recovery, and positive feedback from trade negotiators. At 21h15, the Nasdaq was up by 0.50%.
Europe
On Wednesday European indices rose for the fourth session in a row, thanks to positive sentiment due to a potential US-Sino trade deal, strong economic data and hopes of a smooth Brexit. The pan-European STOXX 600 index closed 1.01% higher.
Hong Kong
Asian indexes enjoyed a positive Wednesday due to encouraging reports indicating that the trade negotiations between China and the US have almost reached a consensus as well as evidence that China’s economy is recovering. Both the Hang Seng and the Shanghai indexes closed up by over 1%.
Japan
Japanese markets were lifted on Wednesday by Fast Retailing’s phenomenal monthly sales reports, and trade-war negotiation optimism boosting cyclical shares. At the end of business, the Nikkei was 0.97% in the green.
Rand
On Wednesday, the rand was once again a top performing emerging market currency as it was boosted by favourable Chinese data. At 21h15, the rand traded R14.13 to the dollar.
Precious metals
Although gold prices rose on Wednesday, gains were capped by the US and China possibly reaching a trade deal and the strong economic data released by the two superpowers. At 21h15, spot gold was trading at $1 290.62 an ounce.
Oil
Despite data revealing that the US oil inventories are larger, the oil price held steady near $70 as Opec cut output and the sanctions on Iran lowered supply expectations. At 21h15, Brent crude was trading at $69.94 per barrel.
Our daily update
Yesterday we covered fashion brand Superdry's boardroom issues and the company's share price decline over the last couple of years as the shares slumped following the news that its founder, got voted back onto the board of directors and soon after that was elected the interim CEO of the group. The image below shows the share price performance of Superdry Plc (LON: SDRY) yesterday. For more on the Superdry boardroom issues read here.
Superdry shares slump after boardroom issues
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 a very positive start for the month of April has turned into an extremely positive start for the Month of April 2019 after yesterday's 1.34% increase in the JSE All Share Index and this following three months of positive returns for the JSE All Share Index. But while there overall returns of the JSE All Share so far in 2019 has been positive (as shown by our 2019 Calendar tracker) we as South African investors are losing out in Dollar terms. 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