Daily Report 23 August 2021

SA Company News:
The JSE looks set to open amid a positive session for Asian markets on Monday morning, with markets recovering from a tough last week when the JSE had its worst day in ten months on Thursday.
Standard Bank is aiming for a return on equity of up to 20% by 2025 as it looks to transform into a platform for services beyond banking, after having reported headline earnings rose by more than half in its six months to end-June.
Tencent, which gives direction to the JSE via the Naspers stable, gained 2.91%.

SA Economy:
The Public Investment Corporation (PIC), reputedly the biggest single investor in SA’s commercial property industry is continuing to make major investments in the sector despite the significant negative impact of the Covid-19 pandemic on most segments of the property market.
Unemployment is forecast to have slightly increased for a second consecutive quarter this year as the Covid-19 extended lockdown restrictions continued to bite on economic activity. In the three months to June, the country was adjusted from alert level 1 lockdown to alert level 4 by the end of the quarter, leaving more sectors to trade under stringent conditions.

Global Economy:
The Hang Seng led the gains, jumping nearly 2% after plunging to an over 9-month low Friday, with all major sectors higher. Stocks in Japan surged 1.8% after tumbling to an 8-month low on Friday, amid a rebound in auto-related stocks following losses stoked by an announcement by Toyota Motor that it would slash its global output by 40% in September.
European stocks rose on Monday, trying to recover from last week’s sharp sell-off, as investors awaited PMI figures from the Eurozone, the UK, and the US due today and the annual conference in Jackson Hole later this week at which Federal Reserve Chairman Powell is expected to provide more details about the timeline of tapering of the central bank’s bond-buying programme and the outlook for the economy.

Commodities:
Oil prices jumped more than 1.5% on Monday, as traders snapped up bargains after oil markets suffered a 7.7% plunge last week and saw the 7th straight session of losses.
Gold was up 0.33% to $1,787.30/oz. Platinum gained 1.68% to $1,014.

Currencies:
The rand was 0.45% firmer at R15.25/$, on track to break a five-session losing streak.
Bitcoin tops $50 000, hitting a more than 3-month high.

Economic Calendar for the week:  
23-Aug-21
SOUTH AFRICA
Country Economic Event Date
ZAR Unemployment Rate (Q2) 24-Aug-21
ZAR Unemployment (Q2)
ZAR Gold Production (YoY) (Jun) 26-Aug-21
ZAR Mining Production (Jun)
ZAR PPI (YoY) (Jul)
ZAR PPI (MoM) (Jul)
 
INTERNATIONAL
Country Economic Event Date
GBP Composite PMI (Aug) 23-Aug-21
GBP Manufacturing PMI (Aug)
GBP Services PMI (Aug)
USD Existing Home Sales (Jul)
EUR Eurozone Manufacturing Purchasing Managers Index (PMI)
USD New Home Sales (Jul) 24-Aug-21
USD Core Durable Goods Orders (MoM) (Jul) 25-Aug-21
USD Crude Oil Inventories
EUR ECB Publishes Account of Monetary Policy Meeting 26-Aug-21
USD GDP (QoQ) (Q2)
USD Initial Jobless Claims
USD Fed Chair Powell Speaks 27-Aug-21
 
SOUTH AFRICA
Ticker Company Date
AIP Adcock Ingram Holdings Ltd 25-Aug-21
BID Bid Corp Ltd 25-Aug-21
DCP Dis-Chem Pharmacies Limited 25-Aug-21
DGH Distell Group Holdings Limited 26-Aug-21
DRD DRD Gold Limited 25-Aug-21
GND Grindrod 27-Aug-21
ITE Italtile Limited 26-Aug-21
MSM Massmart Holdings Limited 27-Aug-21
MUR Murry & Robberts Holdings 26-Aug-21
SSW Sibanye Stillwater Limited 26-Aug-21
SNH Steinhoff International Holdings 27-Aug-21
WHL Woolworths Holdings Limited SA 26-Aug-21
INTERNATIONAL
Ticker Company Date
BBY Best Buy Co Incorporated 25-Aug-21
JD JD.Com Incorporated 23-Aug-21
GPS The Gap Incorporated 26-Aug-21

 

Brent Oil Futures                                              Gold Futures                                           Top 40 Futures

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Market Indicators

Commodities $

Cross Currencies ($)

Major Indices

Gold 1787,25 (-0.12) USD/ZAR 15,26 Top40 59800,02 (-0.09)
Platinum 1008,25 (+2.84) GBP/ZAR 20,84 Dow 30 35120,08 (+0.64)
Brent 66,06 (-1.03) EUR/ZAR 17,88 S&P 500 4441,67 (+0.81)
Copper 4,17 (+1.92) EUR/USD 1,1715 FTSE 7087,90 (+0.41)
Palladium 2301,00 (-1.37) USD/JPY 109,96 DAX 15808,04 (+0.27)
Iron Ore 139,50 (-1.79) BITCOIN 47194,30 Shanghai 3471,51 (+1.65)
Source:  Investing.com