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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 March 2019
South Africa
The JSE closed slightly in the green on Friday, tracking risk-on sentiment in global markets. The local bourse closed 0.36% higher.
United States
Wall Street closed up on Friday after three days of losses, lifted by optimism about the prospects for a US-China trade agreement, but gains were capped by downbeat manufacturing and consumer reports. At market close, the Dow Jones was up 0.43%, the S&P 500 0.70% and the Nasdaq 0.84%.
Europe
European shares rose to five-month highs on Friday, as new corporate updates fuelled risk appetite. The pan-regional STOXX 600 index closed up 0.40%.
Hong Kong
Chinese A-shares leaped on Friday after the MSCI quadrupled the shares' weight in its global benchmarks and strong US economic data lifting the dollar and bond yields. China's blue-chip CSI300 index surged 2.20% to land its best week since November 2015.
Japan
The Nikkei 225 ended 1.02% higher on Friday, helped by a weaker yen.
Rand
The rand was flat against major global currencies on Friday, after weakening slightly overnight, coming under pressure after the release of positive US economic data. It traded in the range of R14/$ over the weekend.
Precious metals
Gold slipped on Friday, pressured by a reviving dollar and rising shares. Spot gold traded below $1 300 an ounce over the weekend.
Oil
Brent crude fell on Friday, weighed down by surging US supply and concerns of a global economic slowdown, but falling oil cartel Opec supplies put a floor under prices. A barrel of Brent crude traded below $65 over the weekend.
The JSE closed slightly in the green on Friday, tracking risk-on sentiment in global markets. The local bourse closed 0.36% higher.
United States
Wall Street closed up on Friday after three days of losses, lifted by optimism about the prospects for a US-China trade agreement, but gains were capped by downbeat manufacturing and consumer reports. At market close, the Dow Jones was up 0.43%, the S&P 500 0.70% and the Nasdaq 0.84%.
Europe
European shares rose to five-month highs on Friday, as new corporate updates fuelled risk appetite. The pan-regional STOXX 600 index closed up 0.40%.
Hong Kong
Chinese A-shares leaped on Friday after the MSCI quadrupled the shares' weight in its global benchmarks and strong US economic data lifting the dollar and bond yields. China's blue-chip CSI300 index surged 2.20% to land its best week since November 2015.
Japan
The Nikkei 225 ended 1.02% higher on Friday, helped by a weaker yen.
Rand
The rand was flat against major global currencies on Friday, after weakening slightly overnight, coming under pressure after the release of positive US economic data. It traded in the range of R14/$ over the weekend.
Precious metals
Gold slipped on Friday, pressured by a reviving dollar and rising shares. Spot gold traded below $1 300 an ounce over the weekend.
Oil
Brent crude fell on Friday, weighed down by surging US supply and concerns of a global economic slowdown, but falling oil cartel Opec supplies put a floor under prices. A barrel of Brent crude traded below $65 over the weekend.
Our daily rant..
On Friday MTN released a further trading statement regarding their expected headline earnings per share for the year ending December 2018. And based on the price action in the share the market expected a lot better from the group. With their current profit expectations they are trading at a very steep PE ratio of around 24, which is excessive for the group especially considering all their troubles in recent years with the Nigerian telecoms regulators, issues with getting cash out of Iran due to sanctions against the country etc.
Read more on MTN's latest trading statement here.
Read more on MTN's latest trading statement 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 first trading day of March 2019 ended on a positive note. And so far for 2019 ever month the JSE All Share Index has ended in the green. But when looking at the returns of the All Share in Dollar terms South African investors are losing out against the rest of the world. Recent Rand weakness not helping the local investors returns in dollar terms.