The JSE all-share index closing the day at 66 101 from its opening price of 65 243.
On Monday the South African equity markets saw Barloworld Ltd. (BAWP) being the biggest loser of the day with a -26.36% loss moving from R1.10 to close the day at R0.81, whilst CSG Holdings Ltd. (CSG) saw a 55.00% gain moving from R0.20 to close the day at R0.31, making it the biggest winner in the equity market.
The Rand slipped against the US Dollar on Monday, moving from R14.93 to R15.07
Sports fans are now allowed to attend live sporting events. Fans at sporting events are still expected to comply with the strict lockdown regulation guidelines. Spectators should not exceed 750 people for indoor venues while outdoor venues should not exceed 2000 people.
President Cyril Ramaphosa has expressed his appreciation to Chief Justice Mogoeng Mogoeng for his service to the nation during his 10 year tenure which ended on Monday 11 October 2021.
Gold took a slight knock, moving from 1 754.15 USD/oz to 1 757.13 USD/oz.
Platinum lost by -1.7%, closing at 1 011.25 USD/oz from its opening price of 1 028.59 USD/oz.
Copper continued on its recovery, closing Monday on 9 604.75 USD/t from its opening price of 9 387.75 USD/t
Oil prices continued to see further gains. Brent Crude moved from 82.39 USD to close at 83.65 USD. Oil Prices on the rise and here’s why you should be worried
GER30 and UK100 futures are currently down by -0.6%. US futures are posting losses of -0.3 to -0.4% as markets fret about rising yields, the spike in oil prices and stagflation risks amid ongoing supply chain constraints are increasingly becoming an issue on the manufacturing outlook.
Equities down are down with JPN225 taking a -0.9% while ASX corrected by -0.3%.
Oil prices continued to rise to the highest levels since 2014 – Currently $81.06. UKOIL to $84.58. – adding to inflationary pressures in recovering economies.
US Yields held above 1.6%, yields continued to rise in Australia and New Zealand, although China’s 10-year rate dropped back slightly.
South Korea’s central bank has left Base Rate constant as expected, while in data Japan’s PPI rate jumped higher, UK unemployment rate unchanged at 4.5% in the 3-month to August.
The December 10-year Bund future is up 10 ticks, U.S. futures are also slightly higher, while in cash markets the US Treasury yield is holding above the 1.6% mark. Central banks seem split on how to react and while the Bank of England (BoE) is clearly laying the ground for an earlier than expected lift off on rates, European Central Bank (ECB) officials continue to do their best to keep rate hike speculation under control. The latter is keeping a lid on the EUR, while so far Sterling is benefiting from rate hike speculation, although that could change, if the focus turns to growing supply chain and delivery disruptions and the impact of the spike in gas prices, which is also causing problems in areas such as food and drink production.
Things to watch today
U.K. NIESR Gross Domestic Product (GDP) Estimate, U.K. Average Earnings Index + Bonus, U.K. Claimant Count Change, U.K. Employment Change 3M/3M, Germany ZEW Economic Sentiment, South Africa Manufacturing Production YoY, India Consumer Price Index (CPI) YoY, U.S. JOLTs Job Openings.
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.
South African COVID-19 Information Portal
iBusiness on COVID-19