On Tuesday, the reality of South Africa's economic challenges manifested itself in the data set released by Statistics South Africa which showed that the economy contracted by 0.7% for the second quarter of 2018, following on from a 2.6% contraction in the first. Immediately following the release, weakness was seen in the Rand which saw a sharp sell-off from 15.02...
On Friday, the South African equity market continued to soften following the sharp sell-off seen on Thursday. For the session, the All Share Index closed lower by 0.23% while the Top 40 index shed 0.35%. These declines were led by South 32 (-4.17%), AB Inbev (-2.60%) and Naspers (2.51%). On the upside, Bidvest, Bidcorp and Woolworths saw strong buying activity...
It was "Throwback Thursday" on the JSE as the index gave back all of the week's gains due to the extended emerging market contagion. This time we (again) cried for Argentina as the central bank raised interest rates to 60% which saw it's currency plunge to an all-time low of 41.35 to the US Dollar. This impact was seen in the local unit as the Rand closed weaker...
On Wednesday, a weaker South African Rand weighed on local shares, holding the index back from a further advance. On the day, the All Share closed higher by 0.21% but really struggled to find a real direction as financial shares closed lower by 1.14% while other domestic names such as Shoprite, Bidvest and Vodacom declined by 4.23%, 2.14% and 2.03% respectively....
Although gaining on Tuesday, global equities were up only marginally following strong buying activity on Monday. The S&P 500 Index, which tested 2900 for the first time ever, added 0.03% for the session, while Dow Jones Industrial Average traded above 26000. In the tech sector, the NASDAQ Composite held above the 8000 level, adding 0.15% on the day. In Europe,...
Global equity markets started the week on a strong note, continuing the upward momentum following comments last week by the Federal Reserve Chairman Jerome Powell that the committee sees "gradual" interest rate increases and no clear signs that inflation would accelerating above target. Adding to the "risk-on" sentiment was the revised trade agreement between the...
I am very excited that the Johannesburg Stock Exchange (JSE) has been added to the TradingView data sources. This gives South African investors an opportunity to use the flexibility and ease of TV. As my first post I would like to highlight the performance of the Resources Sector. The South African economy was built on resources and has been under performing...
This mornings flash note from our Trading Desk Analyst, Lester David s:
"We've "gapped" higher on today's open, breaching the downward trend line from the all time highs at 55192 (week of 20-Nov-2018)
What I'm looking at is the weekly setup. We currently trade at the highest level since Jan 2018.
If we take it back to June 2017, that could potentially be a...
On Friday, the South African equity market continued to tick higher, buoyed by a general risk-on sentiment as well as a weaker US Dollar and lower US Bond Yields. On the day, the All Share Index added 1.02% while the Top 40 Index was higher by 1.17% lead by Pepkor, Glencore and Naspers while South 32, Standard Bank and South 32 weighed on the index.
In Europe,...
On Thursday a weaker South African Rand helped to boost the All Share Index by 0.14% to close the session at 52205. Despite the slight weakness in the local currency, SA-focused shares such as Shoprite, Discovery and Capitec also advanced by over 2.5% while weakness was seen in Anglo American, Mediclinic International and British American Tobacco as the shares...
Local equity markets continued to trade strongly on Wednesday as a weaker US Dollar helped to bring relief to the battered emerging markets, which have been under significant pressure year-to-date. On the day, the iShares Emerging Markets ETF advanced by 0.79%, continuing to bounce off the YTD lows. On the JSE the All Share Index closed higher by 1.64% while the...
Rumblings throughout the financial markets continued on Tuesday around US Donald Trump being concerned about the Federal Reserve raising interest rates. As you may well know, higher rates in the US means a stronger US Dollar but could also spell trouble for equity markets which for nearly a decade have relied on low interest rates to borrow cheaply and fuel...
IPL: FY results out today, HEPS came in the middle of guidance. Dividend up, coming in at R7.10 so overall decent. Proposed unbundling has been approved by the board and will be concluded in Q4 2018.Share price is up 1.67% to R201.50 and think medium term is a buy opportunity. Will also benefit from any strength in the ZAR.
BHP Billiton: Results came out this...
South African equity markets started the week on the front foot as hope of a resolution to the trade dispute between the United States and China shifted the sentiment from bearish to slightly bullish, continuing the move higher from the middle of last week. On the day, the All Share Index added 0.88% while the Top 40 was higher by 0.99% as shares such as miner...
On Friday, the South African equity markets closed in positive territory following it's mid-week slump with the All Share Index adding 0.15% for the session. The Top 40 index edge higher by 0.19% with the 19 shares closing higher while the remaining 21 saw losses.
On the upside, Quilter and Amplats added 2.67% and 2.26% respectively while Bidvest and RMB...
