South African equity markets started the week on a softer note as fears around trade between the United States and China continued to weigh on global sentiment. For the session, the All Share Index finished lower by 0.62% while the Top 40 declined by 0.57%, lead lower by Tiger Brands (-2.29%), Shoprite (-2.24%) and Bidvest (2.09%). On the upside, winners...
On Friday, South African equity markets were stable, holding near the lows of the week and continuing to trade within a tight, two-day range. For the session, the All Share closed 0.05% higher at 57130, while the Top 40 index was in the green by 0.12%. Supporting the positive close was Naspers (+2.61%), Discovery Holdings (+2.27), Firstrand (+2.23%) and Tiger...
On Thursday a stronger South African Rand helped to lift local shares, keeping the All Share Index in the green by 0.05%. On the day, the local currency traded in a 30c range versus the US Dollar, reaching a low of R15.53 and a high of R15.23. Providing support was banking group Firstrand that released it's results for the year ended 30 June 2018, showing a 12%...
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,...
Lester Davids, our Trading Desk analyst, has sent out a flash note on Mr Price Group. "Today the price tested resistance right on the 200dma as well as the underside of the prior support level. Has run very hard over the last week however could consolidate around this level."
Unum flash note on the USDZAR from our Trading Desk analyst, Lester Davids. Chart 1: USDZAR: We currently trade just below the R14.25 resistance, with the Rand having gained on a weaker USD. The monthly chart shows this to be the top of the bull flag/channel. Chart 2: Another view (again the monthly chart), shows the potential start of a "right shoulder" of a...
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...
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...
Morning all, Our Unum Capital Trading Desk analyst @Lester_Davids published a flash note on EM AMEX:EEM this morning: "Following a stellar two-year run, emerging markets (EM) have been under significant pressure with the selling pressure commencing in January 2018. The reason? The surge in the US Dollar (high interest rates) as well as political fallout...
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...
With the petrol price increasing, tax increased this year results on a lot of financial pressure on the south african consumer leaving consumers with a lower disposable income. In time of lower disposable income it is natural in an economic sense that there would be an increase on credit purchases from consumers. With this being said. I think TFG is best...
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...
Afternoon All, Remember tomorrow is earnings, should be in around 8:00.