Daily Report 04 August 2021

SA Company News:

The JSE faces mixed but mostly positive, Asian markets on Wednesday morning, with Tencent bouncing back from a tough Tuesday as investors once again grappled with the threat of Chinese regulatory interventions. Insurance group Liberty Holdings is expected to report a return to profit in its six months to end-June later, as it bounces back from a tough first half of 2020 that forced it to set aside R3bn as a pandemic reserve. Improved sentiment should drive the JSE higher.


SA Economy:

Pick n Pay rebranded and relaunched its on-demand delivery service, Bottles, to Pick n Pay asap! this month. John Bradshaw said the new PnP asap! service offers a “fresh” new look and improvements with the aim of making grocery shopping easy. Medical aids in pound seats, but regulator still supports new fee hikes amid Covid-19 concerns.


Global Economy:

US markets were positive overnight, with the S&P 500 reaching record high and positive corporate earnings competing with the concern about rising infection numbers due to the Delta variant of the coronavirus. Asia-Pacific shares traded mostly higher this morning. Awaiting final services PMI data from across Europe and the UK as well as the Eurozone’s retail sales for June.



Brent crude futures were higher on Wednesday, trading around $72.4 a barrel after hitting below $71 in the previous session, as investors continue to monitor the potential impact of the spread of the coronavirus variant on demand.Gold $1812 managed some gains.



The rand was 0.2% firmer at R14.28/$, having firmed almost 1% on Tuesday.The dollar remained weak in the first trading week of August, not far from July’s lows as fears about slowing US economic growth.



Market Indicators
Commodities $ Cross Currencies ($) Major Indices
Gold 1816,20 (+0.14) USD/ZAR 14,28 Top40 62543,44 (-0.26)
Platinum 1044,60 (-0.60) GBP/ZAR 19,89 Dow 30 35116,40 (+0.79)
Brent 72,32 (-0.72) EUR/ZAR 16,96 S&P 500 4423,15 (+0.81)
Copper 4,38 (-0.91) EUR/USD 1,1871 FTSE 7105,72 (+0.34)
Palladium 2649,00 (-1.15) USD/JPY 109,08 DAX 15555,08 (-0.09)
Iron Ore 191,50 (+0.00) BITCOIN 37811,40 Shanghai 3473,16 (+0.60)
Source:  Investing.com