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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 9 December 2019
South Africa
The local bourse rose alongside global shares on Friday on the back of trade deal optimism. The benchmark JSE Top-40 Index was up 0.98% while the broader All Share Index rose 0.96%.
United States
Wall Street advanced on Friday as a strong jobs report and upbeat comments from President Donald Trump on trade talks breathed new life into markets after a roller-coaster week. The Dow Jones was up by 1.18% at 18h30.
Europe
European shares edged higher on Friday as comments from Trump that trade talks with China were “moving right along” injected some calm into markets. The pan-European STOXX 600 index rose 0.40%.
Hong Kong
Hong Kong stocks ended the week on an upbeat note, after hopes of an interim US-China trade deal were renewed by Trump’s comment that the talks were “moving right along”. The Hang Seng index rose 1.07%.
Japan
The Nikkei recovered slightly on Friday, closing up by 0.23% after positive comments from Trump on the US-China trade war.
Rand
South Africa’s rand was barely changed in late trade on Friday, with fresh optimism over Sino-US trade talks helping the currency to weather stronger employment numbers from the US. The rand was trading at R14.63/$ at 18h30.
Precious metals
Gold slid 1% on Friday as strong US jobs data renewed optimism that the Federal Reserve would not raise interest rates and boosted demand for riskier assets.
Oil
Oil prices steadied on Friday and were set for weekly gains ahead of a meeting of oil cartel OPEC and its allies later in the day, which is expected to formally agree to more output cuts in early 2020. A barrel of Brent traded at $64.81 at 18h30.
The local bourse rose alongside global shares on Friday on the back of trade deal optimism. The benchmark JSE Top-40 Index was up 0.98% while the broader All Share Index rose 0.96%.
United States
Wall Street advanced on Friday as a strong jobs report and upbeat comments from President Donald Trump on trade talks breathed new life into markets after a roller-coaster week. The Dow Jones was up by 1.18% at 18h30.
Europe
European shares edged higher on Friday as comments from Trump that trade talks with China were “moving right along” injected some calm into markets. The pan-European STOXX 600 index rose 0.40%.
Hong Kong
Hong Kong stocks ended the week on an upbeat note, after hopes of an interim US-China trade deal were renewed by Trump’s comment that the talks were “moving right along”. The Hang Seng index rose 1.07%.
Japan
The Nikkei recovered slightly on Friday, closing up by 0.23% after positive comments from Trump on the US-China trade war.
Rand
South Africa’s rand was barely changed in late trade on Friday, with fresh optimism over Sino-US trade talks helping the currency to weather stronger employment numbers from the US. The rand was trading at R14.63/$ at 18h30.
Precious metals
Gold slid 1% on Friday as strong US jobs data renewed optimism that the Federal Reserve would not raise interest rates and boosted demand for riskier assets.
Oil
Oil prices steadied on Friday and were set for weekly gains ahead of a meeting of oil cartel OPEC and its allies later in the day, which is expected to formally agree to more output cuts in early 2020. A barrel of Brent traded at $64.81 at 18h30.
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Our daily update
The extract below covers the agricultural sector of South Africa in more detail.
And while the agricultural sector remains a relatively small contributor to South Africa's total economic activity it does provide South Africa with most of its basic food needs as well as supplying thousands with jobs, even if a lot of it is part time employment. According to the quarterly labour force survey during the period July to September 2019 there were 880 000 people that were employed or that worked in the agricultural sector in South Africa, of which 269 000 (or 29.7% were females and 70.3% were males). In the first quarter of 2019 (January to March 2016) there were 869 000 employed in the agricultural sector in South Africa. So over the period of almost 4 years employment in the sector increased by just 1.27%.
The summary below shows in which the 880 000 people employed in agriculture during the 3d quarter of 2019 were working:
Read the full article here
And while the agricultural sector remains a relatively small contributor to South Africa's total economic activity it does provide South Africa with most of its basic food needs as well as supplying thousands with jobs, even if a lot of it is part time employment. According to the quarterly labour force survey during the period July to September 2019 there were 880 000 people that were employed or that worked in the agricultural sector in South Africa, of which 269 000 (or 29.7% were females and 70.3% were males). In the first quarter of 2019 (January to March 2016) there were 869 000 employed in the agricultural sector in South Africa. So over the period of almost 4 years employment in the sector increased by just 1.27%.
The summary below shows in which the 880 000 people employed in agriculture during the 3d quarter of 2019 were working:
- Western Cape: 215 000
- Eastern Cape: 96 000
- Northern Cape: 33 000
- Free State: 56 000
- KwaZulu-Natal: 143 000
- North West: 59 000
- Gauteng: 40 000
- Mplumalanga: 98 000
- Limpopo: 140 000
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.
So the month of November so the JSE All Share index end -1.75% in the red. And after the first trading week in December 2019 the JSE All Share index is in the red by -0.04%
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