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.
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.
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.
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.
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 $1 051.80/oz.
The rand is trading at R14.66/$. The euro is trading at $1.1577.
Economic Calendar for the week:
|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|
|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|
|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|
|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|
|Commodities $||Cross Currencies ($)||Major Indices|