Daily Report 27 September 2021

SA Company News:

The JSE All-Share index closed 1.1% higher at 64,049 on Thursday. SA markets were closed on Friday for Heritage Day. Clicks reported on Thursday that its CEO Vikesh Ramsunder had resigned and accepted an offer in Australia. He will be replaced by Bertina Engelbrecht.PSG Konsult advised shareholders that headline earnings per share will be between 30.4 cents and 30.8 cents higher than the 24.8 cents reported for the six months ended 31 August 2020. Investec says it will continue to organically grow its private and corporate banking client base in SA and the UK rather than looking to expand into new territories.

SA Economy:

The Reserve Bank kept the interest rate at a record low of 3.5% as inflation remain benign. South Africa’s mining industry has given its backing to moving away from the coal power supply ahead of the UN Climate Change Conference in Glasgow in November. The coal industry also accounts for the livelihoods of 450 000 households in the province of Mpumalanga, where most coal mines and coal-fired power plants are located.

Global Economy:

Euro Area Manufacturing PMI falls again in September to 58.7 from 61.4 in August. Markets will be waiting for the outcome of Germany’s federal elections, which took place at the weekend.BP, the second-largest fuel retailer in the UK, said it has run out of the main grades of fuel at almost a third of its stations in the country because of panic buying. China’s power supply shock that is being driven by rising demand for electricity and surging coal and gas prices could have a ripple effect on global markets.

Global Company News:

The Shanghai composite had fallen 0.6%, while the Hang Seng was up 0.68%. The S&P 500 was 0.15% higher to 4,455 and the Dow Jones Industrial Average gained 33 points to 34,798.00 on Friday, wrapping up a volatile week on Wall Street. India’s SENSEX was up 72 points or 0.12% to near-record highs at 60,130. Intel to open two chip factories in Arizona as part of its turnaround plan.

Commodities:

Gold was up 0.6% to $1,758.00/oz while Platinum had risen 1.3% to $997.28. Brent crude was 1.26% higher at $78.98 a barrel oversupply concerns following storms in the US that damaged facilities in the Gulf Coast.

 Cryptocurrencies.

The price of Bitcoin fell 5% to $42,496.12 after the People’s Bank of China said all crypto-related activities are illegal.

 Currencies:

The rand weakened to R15.00/$.

Economic Calendar for the week:

2021/09/27
SOUTH AFRICA
Country Economic Event Date
SA Business Confidence 29-Sep-21
SA M3 Money Supply 30-Sep-21
SA Private Sector Credit 30-Sep-21
SA PPI 30-Sep-21
SA Trade Balance 30-Sep-21
SA Manufacturing PMI 1-Oct-21
SA Total Vehicle Sales 1-Oct-21
INTERNATIONAL
Country Economic Event Date
USD Consumer Confidence 28-Sep-21
USD Pending Home Sales 29-Sep-21
USD Crude Oil Inventories 29-Sep-21
CNY Manufacturing PMI 30-Sep-21
USD GDP 30-Sep-21
GBP GDP 30-Sep-21
USD Initial Jobless Claims 30-Sep-21
CNY National Day 1-Oct-21
GBP Manufacturing PMI 1-Oct-21
EUR CPI 1-Oct-21
SOUTH AFRICA
Ticker Company Date
ADI AdaptIT Holdings Ltd 28-Sep-21
ASC Ascendis Health Ltd 29-Sep-21
NPH Northam Platinum Holdings Ltd 30-Sep-21
RMH RMB Holdings Ltd 27-Sep-21
INTERNATIONAL
Ticker Company Date
CTAS Cintas Corp 29-Sep-21
FERG Ferguson PLC 28-Sep-21
INFO IHS Markit Ltd 28-Sep-21
MU Micron Technology Inc 28-Sep-21
NXT Next PLC 29-Sep-21
PMV Premier Investments Ltd 27-Sep-21
SMIN Smiths Group PLC 28-Sep-21

 

Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Platinum 992,30 (-0.36) GBP/ZAR 20,38 Dow 30 34798,00 (+1.55)
Brent 78,31 (+2.46) EUR/ZAR 17,46 S&P 500 4455,48 (+1.34)
Copper 4,29 (+2.10) EUR/USD 1,1716 FTSE 7051,48 (-0.45)
Palladium 1966,50 (-2.64) USD/JPY 110,69 DAX 15531,75 (+0.16)
Iron Ore 109,00 (+5.50) BITCOIN 44143,00 Shanghai 3591,42 (-1.33)
Source:  Investing.com