Daily Report 19 October 2021

SA Company News:

The JSE All Share index closed 0.35% down at 66 792. BHP Group Ltd disclosed iron ore production decreased by 6% to 62 million tons in its first quarter versus a year ago. Sasol had its credit rating reaffirmed by the ratings agency S&P Global to BB on strong cash flows and debt reduction. Dis-Chem will pay R195m for a stake in Kaelo Holdings a company which offers gap cover and other basic health insurance products.

SA Economy:

Motorists need to brace themselves for massive fuel price hike in November. The increases would push the inland price of 95 ULP above R19 a litre and R17 a litre for diesel. Drugs regulator SAHPRA will not be approving an emergency use application for Russia’s Sputnik V COVID-19 shot, citing concerns about its safety for people at risk of HIV.

Global Economy:

Janet Yellen says debt-limit deal will keep Government funded until 3 December 2021. Mounting inflation, supply-chain problems and the energy crunch still poses a risk for global growth. China’s housing market slowed substantially last month as demand from home buyers declined and the country’s debt-saddled developers cut spending.

Global Company News:

In Asia this morning the Hang Seng was up 1.18% and the Shanghai Composite 0.7%. Britain’s biggest retailer Tesco will open on Tuesday its first checkout-free store in London, allowing customers to shop and pay without interacting with a cashier. UK competition regulator plans to launch an investigation into the music streaming market to see whether it was pricing customers fairly. Amazon is planning to hire over 100 000 temporary workers as it prepares for the busy holiday shopping season.

Commodities:

Gold was 0.61% higher at $1775/oz, while platinum rose 1.15% to $1048/oz. Brent crude rose 0.25% to $84.38 a barrel. The copper price is expected to continue the upward trend with forecasts of $10 000 per million ton to $12 000 per million ton for end December and end March respectively. 

Cryptocurrencies.

Bitcoin traded at $62 500 as ETF issuer ProShares is preparing to launch its Bitcoin futures fund on the New York Stock Exchange on Tuesday. 

Currencies:

The rand had firmed 0.8% to R14.56/$. The U.S. dollar weakened 0.3% against the Euro at EUR/USD 1.164.

Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1777.65 (+0.85) USD/ZAR 14.58 Top40 60220.45 (-0.45)
Platinum 1054.70 (+0.37) GBP/ZAR 20.09 Dow 30 35258.61 (-0.10)
Brent 84.69 (-1.22) EUR/ZAR 16.99 S&P 500 4486.61 (+0.34)
Copper 4.78 (+0.00) EUR/USD 1.1655 FTSE 7203.83 (-0.42)
Palladium 2050.00 (-0.98) USD/JPY 114.08 DAX 15474.47 (-0.73)
Iron Ore 115.00 (+0.00) BITCOIN 62338.10 Shanghai 3593.57 (+1.02)
Source:  Investing.com