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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 5 July 2019
South Africa
The JSE closed lower on Thursday as a rally by the rand failed to lift banking stocks. The ALSI fell 0.31%.
United States
US markets were closed on Thursday for the Independence Day public holiday, this after the Dow reached a record high the day before.
Europe
European shares closed higher on Thursday as Italian stocks surged on relief that Rome had avoided European Union disciplinary action and rising expectations of looser monetary policy by major central banks. At 19h30 the DAX traded 0.11% in the green.
Hong Kong
Hong Kong stocks ended lower on Thursday, amid thin trade, as investors awaited developments around Sino-US trade talks. The Hang Seng index fell 0.16%.
Japan
The Nikkei rose yesterday tracking gains on Wall Street on expectations the US Fed would start cutting interest rates after some indicators signalled a slowdown in the economy. The Nikkei was up 0.30%.
Rand
The rand firmed below the R14/$-level in intraday trade on Thursday as talks of impending loose monetary policy in the world’s major central banks boosted emerging-market currencies. At 19h30, a dollar traded at R14.05.
Precious metals
Gold prices eased on Thursday as investors locked in profits before this week’s US non-farm payrolls data. At 19h30, an ounce of spot gold traded at $1 415.42.
Oil
Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on US crude stockpiles. A barrel of Brent crude traded at $63.86
The JSE closed lower on Thursday as a rally by the rand failed to lift banking stocks. The ALSI fell 0.31%.
United States
US markets were closed on Thursday for the Independence Day public holiday, this after the Dow reached a record high the day before.
Europe
European shares closed higher on Thursday as Italian stocks surged on relief that Rome had avoided European Union disciplinary action and rising expectations of looser monetary policy by major central banks. At 19h30 the DAX traded 0.11% in the green.
Hong Kong
Hong Kong stocks ended lower on Thursday, amid thin trade, as investors awaited developments around Sino-US trade talks. The Hang Seng index fell 0.16%.
Japan
The Nikkei rose yesterday tracking gains on Wall Street on expectations the US Fed would start cutting interest rates after some indicators signalled a slowdown in the economy. The Nikkei was up 0.30%.
Rand
The rand firmed below the R14/$-level in intraday trade on Thursday as talks of impending loose monetary policy in the world’s major central banks boosted emerging-market currencies. At 19h30, a dollar traded at R14.05.
Precious metals
Gold prices eased on Thursday as investors locked in profits before this week’s US non-farm payrolls data. At 19h30, an ounce of spot gold traded at $1 415.42.
Oil
Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on US crude stockpiles. A barrel of Brent crude traded at $63.86
Our daily update
Yesterday we looked South Africa's coal exports for the month of May 2019 in more detail and it showed that almost 70% of our coal exports heads to India. And our coal exports to India makes up almost 80% of our total exports to India and Iron ore made up about 10% of our exports to India during May 2019. Basically we export a lot of raw materials and commodities to India and not a lot of manufactured goods
Read more about South Africa's Trade data here
Read more about South Africa's Trade data here
Our JSE All Share index daily performance calendar
Visit our JSE Calendar tracker page for a expanded version of the calendar below
The graphic below provides the daily returns of the JSE All Share Index (J203) on a calendar chart. Provides a great overview of the All share index over the course of the month. It will be updated daily with our daily investment update as received from PSG.
So the South African stock market is still up substantially for the year, with the only negative months so far being the month of May in which markets pulled back pretty sharply. But the markets rebounded in June with it ending up close to 5% for the month. So far for July 2019, the market is slightly down at -0.63% in the first four trading days of the 2nd half of 2019. On the bright side though is the fact that the South African Rand has been very strong recently with it breaking through the R14/$ barrier for the first time in months.
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