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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 8 November 2018
South Africa
Although the JSE ended Wednesday lower than its intraday high, it was still boosted by global risk-on trade on the back of the US midterm election results. The All Share closed up 0.46% and the Top 40 0.36%.
United States
After the release of the US midterm results, which led to a divided Congress that could hinder stricter sector regulations, US indices surged on Wednesday; especially, the technology and the healthcare sectors.
Europe
European shares enjoyed a boost on Wednesday as the US midterm elections revealed expected results and the EU saw a string of positive earnings updates. The STOXX 600 rose by 0.98% at close of business.
Hong Kong
Although the US midterm results on Wednesday could hamper some of US President Donald Trump’s economic policies, some Asian markets fell. At 20h00, both the Shanghai and the Hang Seng indexes were down.
Japan
Japanese markets closed slightly down on Wednesday due to trade volatility as investors investigated the effects of the US midterm results. At 20h00, the Nikkei fell by 0.10%.
Rand
On Wednesday, for the first time in two months, the rand broke through the R14/$ barrier due to the US midterm results lifting market sentiment. At 19h30, the rand was up 1.11% to the dollar, 0.56% to the pound and 0.74% to the euro.
Precious metals
Gold enjoyed more attention from investors on Wednesday as the US midterm results left their Congress divided. However, investors are now waiting for the US Federal Reserve Bank to announce their interest rate plans. At 19h30, spot gold cost $1 227.60 an ounce.
Oil
Brent crude climbed slightly on Wednesday as it came to light that US oil production and inventories were above expectations. At 19h55, a barrel of Brent crude traded at $72.19.
Although the JSE ended Wednesday lower than its intraday high, it was still boosted by global risk-on trade on the back of the US midterm election results. The All Share closed up 0.46% and the Top 40 0.36%.
United States
After the release of the US midterm results, which led to a divided Congress that could hinder stricter sector regulations, US indices surged on Wednesday; especially, the technology and the healthcare sectors.
Europe
European shares enjoyed a boost on Wednesday as the US midterm elections revealed expected results and the EU saw a string of positive earnings updates. The STOXX 600 rose by 0.98% at close of business.
Hong Kong
Although the US midterm results on Wednesday could hamper some of US President Donald Trump’s economic policies, some Asian markets fell. At 20h00, both the Shanghai and the Hang Seng indexes were down.
Japan
Japanese markets closed slightly down on Wednesday due to trade volatility as investors investigated the effects of the US midterm results. At 20h00, the Nikkei fell by 0.10%.
Rand
On Wednesday, for the first time in two months, the rand broke through the R14/$ barrier due to the US midterm results lifting market sentiment. At 19h30, the rand was up 1.11% to the dollar, 0.56% to the pound and 0.74% to the euro.
Precious metals
Gold enjoyed more attention from investors on Wednesday as the US midterm results left their Congress divided. However, investors are now waiting for the US Federal Reserve Bank to announce their interest rate plans. At 19h30, spot gold cost $1 227.60 an ounce.
Oil
Brent crude climbed slightly on Wednesday as it came to light that US oil production and inventories were above expectations. At 19h55, a barrel of Brent crude traded at $72.19.
Our daily rant..
Today is not a rant, but rather a question on the stock market. We have noticed that in recent months there has been a lot of announcements regarding smaller firms being acquired and then being delisted from the JSE. A few announcements we can think of is Interwaste, Clover, Master Plastics and Howden. So is it because these firms are offering value and the acquirers know this, or is becoming to expensive to remain listed and management etc then decides to buy the firm out while its listed and then delisting takes place as all outstanding shares are bought up.