SA Company News:
The JSE All Share index closed 0.13% higher at 65 242 as rising oil prices supported gains in shares of Sasol. MTN Uganda a unit of South Africa’s MTN Group, will release its prospectus today.
The National Union of Metalworkers of South Africa (NUMSA) said its members are considering a new proposal to end a strike in the engineering sector.
The US economy added 194 000 jobs last month well below forecasts of 500 000 due to weakness in the service sector. New Delhi warned of a looming power crisis due to coal shortages. The energy crisis sweeping the world is raising the prospect of a difficult northern hemisphere winter as heating demand rises.
Global Company News:
The Shanghai Composite Index up by 0.3% at 3 600, while the Hang Seng Index in Hong Kong gained 1.6% to 25 256 as news on property company Evergrande subsided. FTSE 100 closes 0.25% higher on Friday over as the Bank of England indicated they will start hiking interest rates sooner rather than later. Shares in India’s Sensex hit an all-time high of 60 426. Third quarter earnings season in the US kicks-off this week.
Gold trading at $1,755 an ounce however concerns over high inflation could continue to support the price. Platinum up 0.14% to 1,028 an ounce and Palladium is flat at $2,078. Brent crude is at a three year high of $84.30.
The rand is 0.13% weaker at $14.93. The euro is trading flat at $1.157.
Economic Calendar for the week:
|SA||Business Confidence (September)||11-Oct-21|
|SA||Mining Production (August)||12-Oct-21|
|SA||Gold Production (August)||12-Oct-21|
|SA||Manufacturing Production (August)||12-Oct-21|
|UK||BRC Retail Sales Monitor||12-Oct-21|
|CNY||Trade Balance (September)||12-Oct-21|
|EUR||Economic Sentiment (October)||12-Oct-21|
|USD||Consumer Price Inflation||13-Oct-21|
|USD||OPEC Monthly Report||13-Oct-21|
|USD||Producer Price Inflation||14-Oct-21|
|BAC||Bank of America||14-Oct-21|
|Commodities $||Cross Currencies ($)||Major Indices|