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...
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...
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