Daily Report 14 September 2021

SA Company News:

The JSE was lifted on Monday by Sasol and mining counters, with its global peers mixed as the risk of slower economic recovery from the Covid-19 pandemic weighed on sentiment. Sasol’s share price rose 8.46% to R240.50 as the oil price reached $74.00. Financial services and technology group Net1 UEPS Revenue declined 9% to $130.8m (R1.85bn) in the year to end-June.

SA Economy:

On 23 September 2021, SAA will once again take to the skies after more than a year of uncertainty. At the same pleas by the SA government calling for the UK to remove the country from its travel red list as travel restrictions is hampering trade between the two countries.

Global Economy:

India’s inflation rate slows more than forecast for a third straight month to 5.30% year-on-year in August 2021 below market expectations of 5.60% and remaining within the RBI’s 2-6% target range. In the US – economic data to be released during this week includes CPI, retail sales and industrial production.

Global Company News:

The FTSE 100 rose on Monday, trying to recover from last week’s 1.5% drop. Major stock markets in Asia lacked direction on Tuesday. Stocks in China fell 1.4% and Hong Kong down 1.2% led the losses. The Dow added 262 points to close at 34,870 while the Nasdaq fell slightly on signs of slowing growth due to the spread of the Delta variant. Oracle released earnings per share at 1.03 USD, compared to market expectations of 0.97 USD. South Korea fines Google $177 million for blocking Android customisation. Google intends to appeal the ruling.

Commodities:

Brent crude futures were higher on Monday at a 6-week high of $73.80 a barrel, as supply disruptions in the US Gulf of Mexico continued. Platinum futures fell to $950 per troy ounce, a level not seen since November 2020, on demand concerns from the automotive industry. Iron ore futures is down about 45% to $130 from a peak set in May of $228 as curbs on steel production in China continues.

Cryptocurrencies:

Institutional traders have flocked to Solana (SOL) as demand for Ethereum (ETH) and BITCOIN (BTC) exposure has flattened. BITCOIN is at $ 45 700.

Currencies:

The US dollar strengthened on Monday as traders remain cautious over the uncertainty over Fed’s tapering timeline. EUR/$ 1.819 ZAR/$ 14.15

Brent Oil Futures     
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 Gold Futures     
Top 40 Futures

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1793.40 (-0.03) USD/ZAR 14.17 Top40 58494.78 (+0.55)
Platinum 952.85 (+0.21) GBP/ZAR 19.60 Dow 30 34869.63 (+0.75)
Brent 74.00 (+0.51) EUR/ZAR 16.73 S&P 500 4468.73 (+0.23)
Copper 4.35 (-2.30) EUR/USD 1.1810 FTSE 7068.43 (+0.56)
Palladium 2082.50 (-1.97) USD/JPY 110.08 DAX 15701.42 (+0.58)
Iron Ore 125.00 (-3.60) BITCOIN 45237.17 Shanghai 3675.07 (-1.01)
Source:  Investing.com