South Africa
The JSE all share index closing the day at 64 300 from its opening price of 64 652.
On Tuesday the South African equity markets saw Rebosis Property Fund Ltd. (REA) being the biggest loser of the day with a -18.92% loss moving from R0.74 to close the day at R0.60, whilst Universal Partners Ltd. (UPL) saw a 23.20% gain moving from R19.05 to R23.20, making it the biggest winner in the equity market.
The Rand slightly slipped against the US Dollar closing Tuesday at R14.33 from its opening price of R14.14
According to Statistics SA, the mining industry has lost 23,000 jobs between 2012 and 2019. On the other hand, there was a 4,7% growth in the number of subcontractors.
Commodities
Gold slightly recovered with a move from 1 793.75 USD/oz to 1 804.51 USD/oz.
Copper took a knock closing the day at 9 426.25 USD/t. from its opening price of 9 550.50 USD/t.
Platinum took a -2.3% knock yesterday, closing the day at 944.00 USD/oz from its opening price of 965.76 USD/oz.
Oil prices continued on their recovery trajectory with Brent Crude moving from 73.51 USD to closing at 73.60 USD.
Global Markets
The storm hitting the Gulf of Mexico was upgraded to a Hurricane.
Treasury yields plunged & the stock markets struggled against the background of weaker data. Buy stops were triggered on the way down for yields. The USA500 had a 0.6% decrease while NASDAQ100 (USA100) was down by -0.45%. The Dow Jones (USA30) was not spared from the attack and took the heat and became the biggest looser with a -0.84% seeing a move to 34501 from 35000, the declined was predominantly supported by a large decline in energy, materials, industrials, and financials. USOil held above $70.40, on a larger than expected drawdown in crude oil stocks in the United States.
Topix and JPN225 have lost -1.15% and -0.46% respectively.
China’s data was overall disappointing with Retail sales down, Growth slowdown, Industrial production weaker and investment growth also missed expectations. – The data round for China highlighted the impact of virus developments and added to the US inflation miss that left investors scaling back tapering concerns as soon as next week’s policy meeting.
British inflation was up last month to its highest level since March 2012 (3.2% y/y).
The ratings agency, Fitch, said that numerous sectors could be exposed to heightened credit risk if China’s No.2 property developer were to default, although the overall impact on the banking sector would be manageable.
Amazon set to hire 125,000 people in advance of the holiday shopping season that is expected to kick off in the coming months, while Apple unveiled an array of new hardware offerings.
Things to watch today
U.S. Crude Oil Inventories, U.S. Export Price Index MoM, U.S. Import Price Index MoM, German Bundesbank Balz Speaks, European Central Bank Lane Speaks, Canada Core Consumer Price Index (CPI) MoM, U.K. Consumer Price Index (CPI) YoY, China Industrial Production YoY, South Africa Retail Sales YoY,
Disclaimer
All prices captured are taking from the previous business day. The material is provided for a general information purpose and do not constitute an independent investment research. Nothing in this market wrap contains, or should be considered as containing, an 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
