Daily Report 13 August 2021

SA Company News:

The FTSE/JSE All Share index traded slightly lower around 69,390 on Thursday, but not far from a record level of 69,814 touched in the previous session, mainly due to weakness in heavyweight’s tech Naspers and miner Anglo American Platinum.Tencent, which normally gives direction to the local bourse via the Naspers stable, had fallen 3.44%.

 

SA Economy:

There is worrying evidence that SA’s middle class and tax base may be shrinking while the number of the poor and unemployed continues to grow rapidly. This trend appears to have begun well before the pandemic but has likely been made worse by the Covid crisis and the latest unrest.Decline in SA economic transactions, the average value of economic transactions registered another decline last month, marking the second consecutive monthly decrease, this index represents an overview of economic trends over a range of sectors, captured by BankservAfrica.

 

Global Economy:

Wall Street’s main indexes traded near the flat line on Thursday, with the Dow Jones and the S&P 500 briefly touching new all-time highs. Investors digested economic data showing a third consecutive decline in weekly jobless claims.In morning trade on Friday, the Hang Seng was down 0.72% and the Shanghai Composite 0.25%, while Japan’s Nikkei was flat.

 

Commodities:

Gold was under renewed selling pressure on Thursday and fell back below $1,750 an ounce, after strong US weekly claims and a faster than expected rise in producer inflation.Platinum was flat at $1,015/oz. Brent crude was 0.38% weaker at $70.88 a barrel.

 

Currencies:

The rand is little changed this morning at R14.79/$.The dollar regained some ground on Thursday, close to levels not seen since early April after data showed weekly initial claims fell for the third week, pointing to a healing labour market despite the latest surge in coronavirus cases due to the Delta variant.

Brent Futures

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Gold Futures 

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Top 40 Future

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Market Indicators

Commodities $

Cross Currencies ($)

Major Indices

Gold 1758,15 (+0.30) USD/ZAR 14,81 Top40 63276,98 (-0.33)
Platinum 1014,90 (+0.72) GBP/ZAR 20,45 Dow 30 35499,85 (+0.04)
Brent 70,67 (-1.03) EUR/ZAR 17,38 S&P 500 4460,84 (+0.29)
Copper 4,36 (-0.69) EUR/USD 1,1736 FTSE 7193,23 (-0.38)
Palladium 2624,25 (-0.50) USD/JPY 110,39 DAX 15937,51 (+0.70)
Iron Ore 164,50 (-1.22) BITCOIN 44963,70 Shanghai 3509,50 (-0.60)
Source:  Investing.com