Daily Report 20 September 2021

SA Company News:

The JSE All Share index swung between small gains and losses on Friday, as investors continued to digest concerns over slowing global growth. The index closed 0.7% lower. Restaurant group Spur sales grew 1% in the year to end-June. Imperial Logistics shareholders have approved a buyout offer of R12bn from Dubai Ports World.

SA Economy:

This week investors’ focus is shifting to local consumer price index data and South Africa’s Central Bank interest rates decision. The UK government decided to keep SA on the red list making visiting SA too expensive for most Britons.

Global Economy:

The Eurozone annual inflation rate came in at 3.2% in August 2021 well above the European Central Bank’s target of 2.0%. Fed is expected to provide more details on the tapering timeline at the FOMC meeting this week. The Baltic Dry Index climbs 1.4% to 4,275 on Friday, its highest level since November of 2009 underpinned by ongoing shipping constraints. Prime Minister Narendra Modi said on Saturday that India is looking to protect the population by accelerating vaccinations and welcoming back tourists.

Global Company News:

The FTSE 100 rose slightly to 7,050 on Friday, as investors’ focus shifts to a Bank of England meeting this week. US stocks finished lower on Friday, with the Dow Jones losing 166 points to 34585. The S&P 500 dropped 41 points to 4433.  The Hang Seng fell on Monday almost 4% dragged down by the continued dumping of shares in Chinese property company Evergrande which fell 15%.

Commodities:

Brent crude futures fell to $75 a barrel on Friday. The Gold price fell 0.34% to a one-month low at $1,745 on Monday. Iron ore futures have dropped to $104 per metric ton as a sharp decline in China’s property sector hurts demand.  Platinum was down 2.8% at $914.54. Palladium slipped 3.5% to $1,945.17.

Currencies:

The rand slid to its lowest against the dollar in about four weeks to R14.82. EUR/USD 1.1723.

Economic Calendar for the week:  

2021/09/24
SOUTH AFRICA
Country Economic Event Date
SA  CPI 22-Sep-21
SA  Business Confidence 22-Sep-21
SA  Interest Rate Decision 23-Sep-21
SA  Public Holiday 24-Sep-21
INTERNATIONAL
Country Economic Event Date
JPY Public Holiday 20-Sep-21
CNY Public Holiday 20-Sep-21
CNY Public Holiday 21-Sep-21
JPY BOJ Interest Rate Decision 22-Sep-21
USD Interest Rate Decision 22-Sep-21
JPY Public Holiday 23-Sep-21
UK BOE Interest Rate Decision 23-Sep-21
USD Manufacturing PMI 23-Sep-21
SOUTH AFRICA
Ticker Company Date
GPL Grand Parade Investments Ltd 23-Sep-21
INL Investec Ltd 23-Sep-21
INP Investec PLC 23-Sep-21
RMI Rand Merchant Investment Holdings 20-Sep-21
REM Remgro Ltd 22-Sep-21
INTERNATIONAL
Ticker Company Date
ADBE Adobe Inc 21-Sep-21
FDX FedEx Corp 21-Sep-21
NKE Nike Inc 23-Sep-21
Brent Oil Futures     
.
 Gold Futures     
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1751.65 (-0.69) USD/ZAR 14.84 Top40 56605.25 (-0.87)
Platinum 909.10 (-2.58) GBP/ZAR 20.33 Dow 30 34584.88 (-0.48)
Brent 74.73 (-0.91) EUR/ZAR 17.38 S&P 500 4432.99 (-0.92)
Copper 4.15 (-3.61) EUR/USD 1.1700 FTSE 6963.64 (-0.92)
Palladium 1936.00 (-2.98) USD/JPY 109.84 DAX 15490.17 (-1.04)
Iron Ore 104.50 (-8.61) BITCOIN 45646.70 Shanghai 3613.97 (+0.01)
Source:  Investing.com