Daily Report 07 October 2021

SA Company News:

The JSE All Share index closed 0.86% lower at 63 987. Sun International was up 19% and City Lodge was up 15% this week over optimism that UK could soon remove SA from its red list. Massmart reached an agreement to acquire 87.5% of OneCart pending regulatory approval. OneCart partners include Woolworths, Pick n Pay, Dis-Chem and Clicks. First National Bank has launched a new Android speed point payment device and will assist small business customers to create online stores with its FNB WebStore. 

SA Economy:

Cosatu has called on millions of workers in the country to join in a strike by staying away from work on Thursday in protest against the freezing of wages in the government and private sector. The liquor industry has resumed paying the monthly R2.5 billion excise duties to the South African Revenue Services (SARS). The revenue service granted the industry a 90-day deferral as a result of a ban on alcohol sales during lockdown, which ended this month.

Global Economy:

The next US event in focus for traders is payrolls data due Friday, with markets expecting the labour market recovery to remain strongRussia reassured Europe on gas supplies. Cold weather and dwindling supply from Russia have triggered a spike in European gas prices recently.

Global Company News:

The Hang Seng led the gains this morning climbing 0.16% to 24 701. Technology stocks rebounded after five consecutive days of declines on concerns of the energy crunch and high bond yields. Chinese markets remained closed for a holiday. TeamViewer, German software developer fell 25% after it cut full-year guidance and reported weaker-than-expected quarterly results. Stocks in the US recovered from an early loss to close higher on optimism that a government shutdown may be avoided. The Dow Jones Industrial Average rose 0.3% to 34 416 and the S&P 500 gained 0.41% to 4 363.

Commodities:

Gold shed 0.28% to $1 757.45/oz while Platinum was down 1.20% to 976.28/oz. Brent crude futures fell by 0.6% to $80.6 a barrel on Thursday, declining for the second session in a row as a result of an unexpected rise in US oil inventories.

Currencies:

The rand is back below the psychological level of R15/$. The euro fell 0.06% to $1.1557.

Brent Oil Futures
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Gold Futures
Top 40 Futures

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1758.45 (+0.30) USD/ZAR 15.00 Top40 57523.81 (-1.00)
Platinum 978.70 (+3.24) GBP/ZAR 20.37 Dow 30 34416.80 (+0.30)
Brent 81.13 (-2.21) EUR/ZAR 17.32 S&P 500 4363.55 (+0.41)
Copper 4.17 (+0.48) EUR/USD 1.1551 FTSE 6995.87 (-1.16)
Palladium 1896.00 (+1.05) USD/JPY 111.50 DAX 14973.33 (-1.48)
Iron Ore 110.00 (+0.00) BITCOIN 54824.60 Shanghai 3568.17 (+0.00)
Source:  Investing.com