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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 8 October 2019
South Africa
The JSE climbed on Monday, tracking global markets as investors waited for some direction from the US-China trade negotiations scheduled this week. The All Share rose 1.34%.
United States
Washington confirmed on Monday that US and Chinese officials will begin high-level talks on Thursday. The US said intellectual property rights, non-tariff barriers, forced technology transfer, services and agriculture will be on the table. Shortly after the JSE closed, the Dow was down 0.12%.
Europe
European shares rose on Monday, as bids in defensive shares outweighed nervousness ahead of crucial US-China trade talks and Brexit negotiations this week. Shortly after the JSE closed, the FTSE 100 had added 0.71%, France’s CAC 40 0.61% and Germany’s DAX 0.62%.
Hong Kong
Chinese markets were closed for a public holiday.
Japan
Japan’s Nikkei slipped on Monday, pressured by concerns that Sino-US trade talks may make little headway this week, although moderate US jobs growth in September offered some support. The benchmark Nikkei ended down 0.16%.
Rand
The rand was weaker on Monday, trading close to the R15/$ mark while investors waited for high-level talks between the US and China this week. At 19h15, a dollar traded at R15.16.
Precious metals
Gold prices remained range bound on Monday as investors took a wait-and-see approach ahead of US-China talks this week. An ounce of spot gold traded at $1 499.65 at 19h15.
Oil
Oil prices were up on Monday, buoyed by hopes of progress in US-China trade talks and supported by challenges to supply facing major exporters. At 19h15, a barrel of Brent crude traded at $59.03.
The JSE climbed on Monday, tracking global markets as investors waited for some direction from the US-China trade negotiations scheduled this week. The All Share rose 1.34%.
United States
Washington confirmed on Monday that US and Chinese officials will begin high-level talks on Thursday. The US said intellectual property rights, non-tariff barriers, forced technology transfer, services and agriculture will be on the table. Shortly after the JSE closed, the Dow was down 0.12%.
Europe
European shares rose on Monday, as bids in defensive shares outweighed nervousness ahead of crucial US-China trade talks and Brexit negotiations this week. Shortly after the JSE closed, the FTSE 100 had added 0.71%, France’s CAC 40 0.61% and Germany’s DAX 0.62%.
Hong Kong
Chinese markets were closed for a public holiday.
Japan
Japan’s Nikkei slipped on Monday, pressured by concerns that Sino-US trade talks may make little headway this week, although moderate US jobs growth in September offered some support. The benchmark Nikkei ended down 0.16%.
Rand
The rand was weaker on Monday, trading close to the R15/$ mark while investors waited for high-level talks between the US and China this week. At 19h15, a dollar traded at R15.16.
Precious metals
Gold prices remained range bound on Monday as investors took a wait-and-see approach ahead of US-China talks this week. An ounce of spot gold traded at $1 499.65 at 19h15.
Oil
Oil prices were up on Monday, buoyed by hopes of progress in US-China trade talks and supported by challenges to supply facing major exporters. At 19h15, a barrel of Brent crude traded at $59.03.
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Our daily update
Yesterday we covered Clicks Group's latest trading update, which the market liked and saw their stock surge
At the time of the release of the group’s interim results on 17 April 2019, shareholders were advised via SENS that diluted headline earnings per share (HEPS) for the year ending 31 August 2019 (“the period”) was forecast to increase by between 10% and 15% over the 2018 financial year.
Following a stronger retail performance by Clicks in the second half, UPD benefiting from gaining new distribution contracts and further improvements in working capital management across the business, the group is revising its earnings forecast range upwards. The directors now expect that diluted HEPS for the period will increase by between 15% and 18% over the 2018 financial year, to between 661.6 and 678.9 cents. Shareholders should note that diluted HEPS for the 2018 financial year was restated to 575.3 cents following the adoption of IFRS 9 and IFRS 15.
Clicks Group’s annual results for the year ended 31 August 2019 will be released on SENS on Thursday, 24 October 2019.
Read the full article here
At the time of the release of the group’s interim results on 17 April 2019, shareholders were advised via SENS that diluted headline earnings per share (HEPS) for the year ending 31 August 2019 (“the period”) was forecast to increase by between 10% and 15% over the 2018 financial year.
Following a stronger retail performance by Clicks in the second half, UPD benefiting from gaining new distribution contracts and further improvements in working capital management across the business, the group is revising its earnings forecast range upwards. The directors now expect that diluted HEPS for the period will increase by between 15% and 18% over the 2018 financial year, to between 661.6 and 678.9 cents. Shareholders should note that diluted HEPS for the 2018 financial year was restated to 575.3 cents following the adoption of IFRS 9 and IFRS 15.
Clicks Group’s annual results for the year ended 31 August 2019 will be released on SENS on Thursday, 24 October 2019.
Read the full article 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.
While the month of August was negative by -1.73% lets see what the month of September holds for the South African stock market.
So for the month September 2019 the JSE All Share Index ended the month down -2.01%. First trading week of October 2019 got off to very rough start but the second trading week is off to a flyer.
There continues to be concerns about a global economic slow down largely driven by the trade ware between the US and China. Continued tariffs by the US on Chinese goods and the retaliation by China by raising tariffs on US goods keeps hurting markets and global economic growth, as the world's two biggest economies continue to stand off in this trade war. Added to market worries is the impeachment investigation currently taking place against President Donald Trump due to him asking Ukraine's president to investigate his political rivals, which most believe is a clear abuse of his powers.
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
So for the month September 2019 the JSE All Share Index ended the month down -2.01%. First trading week of October 2019 got off to very rough start but the second trading week is off to a flyer.
There continues to be concerns about a global economic slow down largely driven by the trade ware between the US and China. Continued tariffs by the US on Chinese goods and the retaliation by China by raising tariffs on US goods keeps hurting markets and global economic growth, as the world's two biggest economies continue to stand off in this trade war. Added to market worries is the impeachment investigation currently taking place against President Donald Trump due to him asking Ukraine's president to investigate his political rivals, which most believe is a clear abuse of his powers.
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