Daily Report 18 October 2021

SA Company News:

The JSE Top 40 index gained 0.17% percent on Friday, with Mediclinic up more than 11% on the back of stellar results. Shares of IHS Holding Ltd in which MTN Group holds a 25% stake began trading on the New York Stock Exchange on Thursday. The initial public offering was priced at $21. Coca-Cola reportedly seeks R120bn value in a JSE listing in 2022. MTN has joined Telkom in its case against regulator, Icasa’s plan to remove temporarily allocated radio waves in November.

SA Economy:

Eskom continues to suspend load-shedding, though it warned several of its generating units remained fragile and further breakdowns were a threat. Transnet has declared a force majeure at its Richards Bay terminal on Friday due to a fire that broke out on Wednesday.

Global Economy:

Chinese GDP growth in the third quarter has disappointed with a reading of 4.9% YOY.  China’s Central Bank has reported that the risks posed by property developer Evergrande to the financial system are controllable and unlikely to spread.  China – The residential property slump continues with home sales by value tumbling 16.9% in September YOY, following a 19.2% drop in August.  Investors continue to worry over whether the recent spike in inflation is more long-lasting and what it means for monetary policy both in the UK and US.

Global Company News:

Hang Seng is down 0.63% to 25 177 and the Shanghai Composite down 0.23% to 3 564. The S&P 500 index closed 0.75% higher at 4 471.  Netflix – The biggest original series launch of Squid Game is estimated to be worth $900m.

Cryptocurrencies:

Bitcoin rallied to $62 000 as traders became confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts.

Commodities:

Oil prices continue to extend its rally and Brent is currently trading at $85.68. Gold is trading at $1 768/oz while platinum was little changed at $1 051.80/oz.

Currencies:

The rand is trading at R14.66/$. The euro is trading at $1.1577.

Economic Calendar for the week:  

2021/10/18
SOUTH AFRICA
Country Economic Event Date
SA Core CPI (MoM) (Sep) 20-Oct-21
SA Core CPI (YoY) (Sep) 20-Oct-21
SA CPI (MoM) (Sep) 20-Oct-21
SA CPI (YoY) (Sep) 20-Oct-21
 
INTERNATIONAL
Country Economic Event Date
CNY GDP (YoY) (Q3) 18-Oct-21
CNY Industrial Production (YoY) (Sep) 18-Oct-21
GBP BoE Gov Bailey Speaks 19-Oct-21
USD Building Permits (Sep) 19-Oct-21
CNY PBoC Loan Prime Rate 20-Oct-21
GBP CPI (YoY) (Sep) 20-Oct-21
EUR CPI (YoY) (Sep) 20-Oct-21
USD Crude Oil Inventories 20-Oct-21
EUR EU Leaders Summit 21-Oct-21
USD Initial Jobless Claims 21-Oct-21
USD Philadelphia Fed Manufacturing Index (Oct) 21-Oct-21
USD Existing Home Sales (Sep) 21-Oct-21
GBP Retail Sales (MoM) (Sep) 22-Oct-21
GBP Composite PMI (Oct) 22-Oct-21
GBP Manufacturing PMI (Oct) 22-Oct-21
GBP Service PMI (Oct) 22-Oct-21
EUR EU Leaders Summit 22-Oct-21
 
SOUTH AFRICA
Ticker Company Date
AGL Anglo American PLC (Production) 21-Oct-21
CGR Calgro M3 Holdings Ltd (Interim results) 18-Oct-21
CLS Clicks Goup Ltd (Full-year results) 21-Oct-21
CMH Combined Motor Holdings Ltd (Interim results) 19-Oct-21
DGH Distell Group Holdings Ltd (Update) 20-Oct-21
KIO Kumba Iron Ore Ltd (Production and sales) 21-Oct-21
PIK Pick n Pay Stores Ltd (Interim results) 20-Oct-21
SBK Standard Bank Group Ltd (Update) 20-Oct-21
SOL Sasol Ltd (Production and sales) 21-Oct-21
INTERNATIONAL
Ticker Company Date
AAL US American Airlines Group Inc (3Q21 Earnings) 21-Oct-21
BARC LN Barclays PLC (3Q21 Earnings) 21-Oct-21
JNJ US Johnson &  Johnson (3Q21 Earnings) 19-Oct-21
NFLX US Netflix Inc (3Q21 Earnings) 19-Oct-21
PG US Procter & Gamble Co  (3Q21 Earnings) 19-Oct-21
SAP GR SAP SE (3Q21 Earnings) 21-Oct-21
TSLA US Tesla Inc (3Q21 Earnings) 20-Oct-21
Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1762.50 (-1.72) USD/ZAR 14.69 Top40 60494.02 (+0.17)
Platinum 1050.85 (-0.48) GBP/ZAR 20.16 Dow 30 35294.76 (+1.08)
Brent 85.72 (+1.33) EUR/ZAR 17.01 S&P 500 4471.37 (+0.74)
Copper 4.78 (+3.35) EUR/USD 1.1579 FTSE 7234.03 (+0.36)
Palladium 2070.00 (-3.07) USD/JPY 114.25 DAX 15587.36 (+0.80)
Iron Ore 115.00 (+1.74) BITCOIN 62420.80 Shanghai 3557.01 (-0.49)
Source:  Investing.com