Daily Report 15 September 2021

SA Company News:

The JSE All Share index closed 0.5% lower at 64,301 on Tuesday, mainly due to weakness in platinum miners and retailers.  Attacq, which owns 80% of Mall of Africa says it is seeing signs of improvement in the real estate sector, which was badly battered by the Covid-19 pandemic. The company did not declare a full-year dividend.

SA Economy:

Mining production in South Africa rose by 10.3 percent from a year earlier in July of 2021. The country has seen a sharp decline in the number of taxpayers earning R750,000 a year in the past two financial years. The emigration of SA’s skilled professionals is a major risk for the dwindling tax base.

Global Economy:

The annual inflation rate in the US eased to 5.3% in August from a previous high of 5.4% reported in June. Investors will continue to monitor the CPI data as it carries implications in the expected decision by the US Federal Reserve to start tapering. Chinese retail sales growth was at a 1-year low, rising by 2.5% and missing market expectations of 11.5%. Global debt hits record $296 trillion as world lockdowns ease.

Global Company News:

European stocks were mixed on Tuesday, with luxury and mining shares among the worst performers amid concerns about the spread of COVID-19 cases in China. The Shanghai Composite Index was lower on Wednesday and the Hang Seng closed 1.69% down. The Dow Jones tumbled more than 300 points on Tuesday and the S&P 500 fell more than 0.5% and the Nasdaq went down 0.3%. Apple unveils new iPhone 13 with camera and screen upgrades and is counting on the new phone to increase sales this holiday season.

Commodities:

Oil futures were up for a 3rd consecutive session to $74.40 a barrel on Tuesday as Hurricane Nicholas made landfall over the Gulf Coast of Texas. Spot gold cut losses to trade at $1,802 per ounce on Tuesday and platinum lost 3.37% to $921.75

Cryptocurrencies:

Ethereum gained traction and broke the $3,400 resistance level against the US Dollar. Bitcoin $46 990.

Currencies:

The rand weakened to R14.33/$ this morning. The euro was 0.16% firmer at $1.1827.

Brent Oil Futures     
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 Gold Futures     
Top 40 Futures

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1804.45 (+0.61) USD/ZAR 14.36 Top40 58115.08 (-0.65)
Platinum 921.75 (-3.37) GBP/ZAR 19.84 Dow 30 34577.57 (-0.84)
Brent 74.12 (+0.16) EUR/ZAR 16.95 S&P 500 4443.05 (-0.58)
Copper 4.33 (-0.46) EUR/USD 1.1806 FTSE 7034.06 (-0.49)
Palladium 1943.50 (-7.15) USD/JPY 109.52 DAX 15722.99 (+0.14)
Iron Ore 123.00 (-1.63) BITCOIN 46840.40 Shanghai 3643.90 (-0.86)
Source:  Investing.com