South Africa
The JSE all-share index closing the day at 65 243 from its opening price of 65 158.
On Friday the South African equity markets saw Rex Trueform Group Ltd. (RTO) being the biggest loser of the day for two consecutive days with a -17.06% loss moving from R11.49 to close the day at R9.53, whilst Brikor Ltd. (BIK) saw a 50.00% gain moving from R0.38 to R0.57, making it the biggest winner in the equity market.
The Rand continued on its recovery trajectory against the US Dollar on Friday, moving from R14.96 to R14.93
Commodities
Commodities closed the week on a positive note with most of our listed commodities closing higher than their opening prices.
Gold had a slight recovery, moving from 1 755.78 USD/oz to 1 757.13 USD/oz.
Platinum gained by 4.6%, closing at 1 028.59 USD/oz from its opening price of 983.70 USD/oz.
Copper slightly recovered, closing Friday on 9 387.75 USD/t from its opening price of 9 289.50 USD/t
Oil prices closed Friday with some gains with Brent Crude continuing its extension above the 80.00 USD mark. Brent Crude moved from 81.95 USD to close at 82.39 USD.
Global Markets
The US Dollar Index holds 94.00 while Bonds and Stocks are under pressure following the NFP numbers which were released this past Friday. The US job numbers kept the door open for the FOMC to potentially announced QE tapering this year even though it looks unlikely given the weakening in US and global growth due to supply chain disruptions.
Capitol Hill is likely to be still hotly debating fiscal policies, while another debt limit drama could be in the works for early December.
US Yields are rising (10-year rising 3.5 bps to 1.616% and the 2-year up 1.2 bps to 0.318%)
The Equity market has been mixed with JPN225 up by +1.5% (supported by comments from Prime Minister Kishida, who said he isn’t considering changes to the capital gains tax at present), GER30 & UK100 are up by +0.7% while the USA500 and USA100 is down by -0.19% and -0.5% respectively.
The December 10-year Bund future is down -27 ticks, U.S. futures are also in the red, while European stock futures are narrowly mixed. Comments from BoE officials over the weekend that backed market bets for an earlier than expected lift off on rates.
Things to watch today
South Africa Business Confidence, German Bundesbank Beermann Speaks, European Central Bank Lane Speaks, U.K. NIESR Gross Domestic Product (GDP) Estimate.
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
