South Africa
The JSE all-share index closing the day at 67 760 from its opening price of 67 475.
On Thursday the South African equity markets saw Chrometco Ltd. (CMO) being the biggest loser of the day with a -18.18%loss moving from R0.11 to close the day at R0.09, whilst PBT Group Ltd. (PBG) saw a 15.34% gain moving from R5.80 to R6.69, making it the biggest winner in the equity market.
The Rand took a knock against the US Dollar on Thursday, moving from R15.08 to R15.14
Commodities
Gold moved from 1 1796.81 USD/oz to close on 1 1798.91 USD/oz.
Platinum closed Thursday at 1 021.39 USD/oz from its opening price of 1 013.04 USD/oz
Copper closed on 9 855.50 USD/t from its opening price of 9 667.00 USD/t
Oil prices took a knock with Brent Crude moving from 84.58 USD to close at 84.32 USD.
Global Markets
The US Dollar index slipped on Q3 GDP miss and ECB ending PEPP in March but neither ruling out nor confirming rate hikes. Yields remains main driver of sentiment as spreads remain at March 2020 lows. Stocks hit record highs before surprise misses from APPL & AMZN, Facebook re-branded to META “Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology”, & Biden pushed hard for $1.75trn budget plan. Today also week & month end.
Evergrande managed to pay another bond dollar coupon on default day.
US Yields (10yr closed at 1.568) lifted in Asian now 1.61%.
Equities – new ATH for USA500 -44 (+0.98%) at 4596 (Nasdaq +1.39%). The big movers are CAT which was up by +4.00%, TSLA by +3.78% and APPL up by +2.5% (then fell -3.4% after hours).
Overnight Signs RBA is ditching attempt at yield control, stronger data from AUD (PPI, Retail Sales) & weak data from JPY (Ind. Prod, Consumer Confidence, Housing Starts). Big beat for French GDP (+3.0% vs 2.2% & 1.1% last time) & CPI a tick stronger.
“December 10-yr Bund future has lost 61 ticks in early trade, Treasury futures also under pressure. Tapering speculation is back with a vengeance. ECB yesterday confirmed PEPP will end on time in March next year, now has until December to make up its mind. BoE meets next week & chief economist Pill (big Hawk) confirmed that it will be a “live” meeting, which means possibility of a rate hike will be discussed at least. Stocks hit as yields spike higher, DAX & FTSE 100 futures currently down -0.45 and -0.2% respectively.”- Hotforex Head Market Analyst, Stuart Cowell.
Things to watch today
Japan Tokyo Core Consumer Price Index (CPI) YoY, Japan Tokyo Consumer Price Index (CPI) Excluding Food and Energy, Japan Jobs/applications ratio, Australia Producer Price Index (PPI) YoY, Australia Retail Sales MoM, South Africa M3 Money Supply YoY, South Africa Private Sector Credit, South Africa Trade Balance, France Harmonised Index of Consumer Prices (HICP) MoM, Switzerland KOF Leading Indicators, Germany Gross Domestic Product (GDP) QoQ, Eurozone Consumer Price Index (CPI) YoY, Reserve Bank of India Monetary and Credit Information Review, Canada Gross Domestic Product (GDP) MoM.
Earnings
BNP Paribas, Daimler, Danske Bank, Eni, EssilorLuxottica, Safran, Signify, Swiss Re; Exxon, Chevron, Phillips 66, AbbVie, Colgate-Palmolive.
Disclaimer
All prices captured are taking from the previous business day. The material is provided for a general information purpose and does not constitute independent investment research. Nothing in this market wrap contains, or should be considered as containing investment advice or an investment recommendation, or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance.
