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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 February 2019
South Africa
Despite positive US jobs data for January released on Friday, the local bourse still ended the week in the red due to disappointing performances from Naspers as well as food and drug retailers. The JSE closed 0.42% down.
United States
US indexes had a mixed day on Friday. The US unemployment rate for January surpassed market expectations, calming investor apprehensions over a decelerating US economy; however, Amazon’s losses weighed heavily on the Nasdaq. At the end of trade, the S&P 500 was only 0.10% in the green.
Europe
European markets ended Friday on a positive note because of buoyant US non-farm payroll data and optimism around the US-China tariff spat lifted European shares. The STOXX 600 closed up 0.28%.
Hong Kong
The Shanghai Composite closed the week on a high, as investor optimism around a trade deal between China and the US soared, easing fears around a slowing economy. At 22h15 on Sunday, the Shanghai rose by 1.30%.
Japan
On Friday Japan’s Nikkei closed almost flat due to gloomy company results from Nomura Holdings and Nintendo offset gains from earlier the week. The Nikkei was marginally up by Sunday, 22h15.
Rand
The rand traded softer on Friday against most major currencies based on weak Chinese data released – China’s manufacturing sector fell further. At 22h15 on Sunday, the rand traded R13.36 to the dollar.
Precious metals
On Friday gold prices slipped in light of the favourable January US non-farm payroll figures released. However, despite this slip, on Friday afternoon gold had gained over 1% during the week. At 22h15 on Sunday, spot gold traded $1 320.75 an ounce.
Oil
Brent crude ended the week up by 0.39% due to an increase in demand, possible US supply cuts and upbeat trade war talks between the US and China. At 22h15 on Sunday, a barrel of Brent crude cost $61.98.
Despite positive US jobs data for January released on Friday, the local bourse still ended the week in the red due to disappointing performances from Naspers as well as food and drug retailers. The JSE closed 0.42% down.
United States
US indexes had a mixed day on Friday. The US unemployment rate for January surpassed market expectations, calming investor apprehensions over a decelerating US economy; however, Amazon’s losses weighed heavily on the Nasdaq. At the end of trade, the S&P 500 was only 0.10% in the green.
Europe
European markets ended Friday on a positive note because of buoyant US non-farm payroll data and optimism around the US-China tariff spat lifted European shares. The STOXX 600 closed up 0.28%.
Hong Kong
The Shanghai Composite closed the week on a high, as investor optimism around a trade deal between China and the US soared, easing fears around a slowing economy. At 22h15 on Sunday, the Shanghai rose by 1.30%.
Japan
On Friday Japan’s Nikkei closed almost flat due to gloomy company results from Nomura Holdings and Nintendo offset gains from earlier the week. The Nikkei was marginally up by Sunday, 22h15.
Rand
The rand traded softer on Friday against most major currencies based on weak Chinese data released – China’s manufacturing sector fell further. At 22h15 on Sunday, the rand traded R13.36 to the dollar.
Precious metals
On Friday gold prices slipped in light of the favourable January US non-farm payroll figures released. However, despite this slip, on Friday afternoon gold had gained over 1% during the week. At 22h15 on Sunday, spot gold traded $1 320.75 an ounce.
Oil
Brent crude ended the week up by 0.39% due to an increase in demand, possible US supply cuts and upbeat trade war talks between the US and China. At 22h15 on Sunday, a barrel of Brent crude cost $61.98.
Our daily rant..
So a letter sent by 5 of SA's main foreign direct investment countries in June 2018 is creating outrage now? The letter signed by diplomats of countries such as USA, UK, Germany, Switzerland and the Netherlands asking President Cyril Ramaphosa to act against corruption or its drive for foreign direct investment will fail is creating a buzz in South Africa now. Sad how being asked to act against corruption is creating outrage. Outrage should be due to the fact that we have not acted against corruption. Just shows how skewed South Africans moral compass is these days.
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.
The first trading day of February ended in the red. In contrast to January in which every Friday ended the day in the green.