Daily Report 16 August 2021

SA Company News:

The JSE looks set to open to mixed Asian markets on Monday morning, with investors weighing some disappointing data out of China, while there are still questions about the future of US monetary policy and the economic fallout from the Delta variant. Sasol Ltd. on Monday reported a swing to profit for fiscal 2021 as previously flagged and said that it isn’t declaring a dividend at this time due to the high level of macroeconomic uncertainty. The South African chemicals-and-energy group attributed its performance to strong cost, working capital, and capital expenditure performance.

 

SA Economy:

Locally, there are concerns that a fourth outbreak of the coronavirus could hit South Africa around November as the country had fully vaccinated only around four million people out of 60 million. Construction industry bodies have welcomed the publication by the government of a National Infrastructure Plan 2050 for public comment but expressed concern about the continuous lack of implementation of government plans and projects.

 

Global Economy:

Major bourses in Asia-Pacific mainly traded in the red on Monday after a raft of Chinese economic data for July all missed forecasts. The FTSE 100 fell more than 50 points on Monday after hitting an 18-month high last week. The losses were led by oil stocks and miners, amid prospects of a slower global growth following China’s weaker-than-expected industrial production and retail trade data and as daily coronavirus cases in Asia continue to hit new records.

 

Commodities:

Oil prices fell more than 1% on Monday, declining for the third straight session, after reports that economic activity in China slowed.Gold was trading 0.18% lower at $1,776.24/oz while platinum fell 1.05% to $1,019.19. Brent crude was 0.44% lower at $69.90.

 

Currencies:

The rand was down 0.25% to R14.74/$.

EUR / USD 1.178

Bitcoin $47 172

Economic Calendar for the week:
16-Aug-21
GENERAL
SA:  Inflation figures and retail sales will come under the economic spotlight this week, with both due to be released on Wednesday.
US:  Markets this week will focus on U.S. retail sales and minutes from the Federal Reserve’s July policy meeting
SOUTH AFRICA
Ticker Company Event Date
ABG Absa Group Interim results 16-Aug-21
BHP BHP Group Full Year Results 17-Aug-21
SOL Sasol Full Year Results 16-Aug-21
COH Curo Interim results 18-Aug-21
GFI Gold Fields Interim results 19-Aug-21
SBK Standard Bank Interim results 19-Aug-21
S32 South32 Full Year Results 19-Aug-21
KAP KAP Industrial Holdings Full Year Results 20-Aug-21
INTERNATIONAL
Ticker Company Event Date
WMT Walmart 2Q21 17-Aug-21
HD Home Depot 2Q21 17-Aug-21
TJX US TJX Cos Inc 2Q21 18-Aug-21
CSCO Cisco 4Q21 18-Aug-21
700 HK Tencent 2Q21 18-Aug-21

 

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Top 40 Futures

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Market Indicators

Commodities $

Cross Currencies ($)

Major Indices

Gold 1773,65 (+0.87) USD/ZAR 14,75 Top40 63269,04 (-0.01)
Platinum 1006,30 (-0.85) GBP/ZAR 20,43 Dow 30 35515,38 (+0.04)
Brent 69,54 (-1.62) EUR/ZAR 17,39 S&P 500 4468,00 (+0.16)
Copper 4,33 (-0.69) EUR/USD 1,1789 FTSE 7218,71 (+0.35)
Palladium 2628,75 (+0.17) USD/JPY 109,38 DAX 15977,44 (+0.25)
Iron Ore 160,50 (-2.49) BITCOIN 47461,80 Shanghai 3515,76 (+0.18)
Source:  Investing.com