Daily Report 13 September 2021

SA Company News:

The JSE All Share Index closed slightly higher at 64,296 on Friday after falling the previous two sessions. Industrial heavyweight Naspers and Tencent showed signs of stability after falling 6% on Thursday, that may be overshadowed by a weaker Tencent today, which was down 3.7% in early trade. Construction and materials group Raubex returned to profit for its six months to end August.

SA Economy:

President Cyril Ramaphosa announced the further easing of Covid-19 restrictions on Sunday night with a move to adjusted alert level two, which includes a resumption of alcohol sales on Friday, while restaurants and bars can trade for an hour longer. These restrictions have been straining businesses, such as restaurants, airlines and entertainment venues, threatening their survival and jobs as SA battles with the world’s highest unemployment rate.

Global Economy:

US producer inflation was at 0.7% month on month in August, above expectations of 0.6%. Investors welcomed a call between President Biden and President Xi Jinping, which raised hopes of less tensions and more trade between China and the US. The US and UK are releasing key inflation reports this week.

Global Company News:

Major markets in Asia mainly fell on Monday, based on concerns over Beijing’s regulatory crackdowns on technology companies. Toyota Motor Corp. trimmed its production outlook for this year by 3% or 300 000 cars because the spread of the coronavirus in Southeast Asia has caused a shortage in key parts. The Hang Seng lost 2%, while the Shanghai Composite was up 0.1%. Chinese authorities are considering breaking up Alipay which is owned by Ant Group. The share is down 4.47% this morning.

Commodities:

Brent crude extended gains by surging more than 2% to above $73.34 a barrel on Friday as China released crude from its strategic reserves for the first time ever. Gold traded at $1795. Platinum traded down 2.4% to $951.00.

Currencies:

The rand traded its highest level in five months against the dollar at R14.08. The euro was flat in Asian trade at $1.1800.

 

Economic Calendar for the week:
2021/09/13
SOUTH AFRICA
Country Economic Event Date
SA Gold Production (July) 14-Sep-21
SA Mining Production (July) 14-Sep-21
INTERNATIONAL
Country Economic Event Date
US Consumer Price Inflation 14-Sep-21
UK Consumer Price Inflation 15-Sep-21
CNY Industrial production, retail sales and fixed asset investment 15-Sep-21
US Retail Sales 16-Sep-21
UK Retail Sales 17-Sep-21
SOUTH AFRICA
Ticker Company Date
AIL African Rainbow Capital Investments Ltd 15-Sep-21
FSR FirstRand Ltd 16-Sep-21
GRT Growthpoint Properties Ltd 15-Sep-21
HYP Hyprop Investments Ltd 17-Sep-21
RMH RMB Holdings Ltd 17-Sep-21
SAC SA Corporate Real Estate Ltd 16-Sep-21
INTERNATIONAL
Ticker Company Date
ORCL US Oracle Corp 13-Sep-21
CCL US Carnival Corp 15-Sep-21
JD LN JD Sports Fashion PLC 14-Sep-21
LEN US Lennar Corp 14-Sep-21
 
Brent Oil Futures     
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 Gold Futures     
Top 40 Futures
 

Commodities $

Cross Currencies ($)

Major Indices

Gold 1793.95 (-0.48) USD/ZAR 14.20 Top40 58175.75 (+0.27)
Platinum 950.85 (-2.41) GBP/ZAR 19.66 Dow 30 34607.72 (-0.78)
Brent 73.62 (+2.13) EUR/ZAR 16.77 S&P 500 4458.58 (-0.78)
Copper 4.45 (+2.70) EUR/USD 1.1791 FTSE 7029.20 (+0.07)
Palladium 2123.50 (-4.03) USD/JPY 110.06 DAX 15609.81 (-0.09)
Iron Ore 129.50 (+0.00) BITCOIN 44700.00 Shanghai 3712.02 (+0.10)
Source:  Investing.com