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