Daily Report 25 October

SA Company News:

The JSE All Share closed 1.5% higher at 67 051 on Friday as Evergrande debt repayment provided some relief to investors. Sibanye-Stillwater Ltd. is in advanced talks to buy two Brazilian Nickel and Copper mines for $1 billion. The deal is expected to be announced over the next few days. As part of Aspen’s restructuring strategy, the company is selling six of its branded products to the Swiss pharmaceutical group Acino Pharma for R1.8 billion. The money will be used to reduce Aspen’s debt. Clicks Group is opening 11 new baby stores in large malls in a bid to capitalize on the birth of an average of 1 million babies a year. A market that was dominated by Baby Boom and Baby City which was recently acquired by Dis-Chem. Mr. Mark Sardi has resigned as Chief Executive Officer of Ascendis Health with effect from 31 December 2021.

SA Economy:

South Africa to develop a green investment plan of $500 million, to fund its energy transition away from coal. This is ahead of the COP26 climate talks to be held in Glasgow later this month. Power utility Eskom has signed an agreement with its two coal suppliers, Exxaro and Seriti Resources, with regards to reducing their carbon footprint using renewable energy. Business Unity SA (Busa) goes to court for clarity on mandatory vaccines as a growing number of companies looking to implement such policies.

Global Economy:

Fed Chairman, Jerome Powell indicated inflation could stay higher for longer and indicated that the Fed will soon start tapering bond purchases. The Fed is also not planning on raising interest rates in the short term. U.S. third-quarter GDP figures are due on Thursday. Traders are also monitoring an outbreak of Covid-19 infections in China.

Global Company News:

Europe’s top markets were all up, with Britain’s FTSE 100, up 0.4% to 7 204. HSBC reported an above-forecast profit of $3.5 billion in the third quarter and announced a share buyback of up to $2 billion. The Shanghai Composite was up 0.64% to 3 605 and the Hang Seng 0.15% to 26 162. This week sees Facebook, Apple, Amazon, and Google-owner Alphabet all reporting, with investors hoping they can follow forecast-beating earnings.

Commodities:

Brent Oil surpassed $86 per barrel after a comment from Saudi Arabia that OPEC and the alliance need to manage international crude oil supplies given the threat to demand still posed by the pandemic. The gold price was up 0.6% to $1798 as the dollar weakened. Platinum futures rose to $1 060/oz, the highest level since July 28th and in line with other precious metals.

Currencies:

The rand is 0.25% firmer at R14.78/$. The dollar was down 0.1% against the Euro to 1.163 on Friday, despite initially bouncing off recent lows after U.S. jobless claims fell to a 19-month low.

 

Economic Calendar for the week:

2021/10/29
SOUTH AFRICA
Country Economic Event Date
SA PPI (MoM) (Sep) 28-Oct-21
SA PPI (YoY) (Sep) 28-Oct-21
SA M3 Money Supply (YoY) (Sep) 29-Oct-21
SA Private Sector Credit (Sep) 29-Oct-21
SA Trade Balance (Sep) 29-Oct-21
INTERNATIONAL
Country Economic Event Date
USD CB Consumer Confidence (Oct) 26-Oct-21
USD New Home Sales (Sep) 26-Oct-21
USD Core Durable Goods Orders (MoM) (Sep) 27-Oct-21
USD Crude Oil Inventories 27-Oct-21
JPY BoJ Monetary Policy Statement 28-Oct-21
JPY BoJ Outlook Report (YoY) 28-Oct-21
JPY BoJ Press Conference 28-Oct-21
EUR Deposit Facility Rate (Oct) 28-Oct-21
EUR ECB Marginal Lending Facility 28-Oct-21
EUR ECB Monetary Policy Statement 28-Oct-21
EUR ECB Interest Rate Decision (Oct) 28-Oct-21
USD GDP (QoQ) (Q3) 28-Oct-21
USD Initial Jobless Claims 28-Oct-21
EUR ECB Press Conference 28-Oct-21
USD Pending Home Sales (MoM) (Sep) 28-Oct-21
EUR CPI (YoY) (Oct) 29-Oct-21
SOUTH AFRICA
Ticker Company Date
ANH Anheuser-Busch InBec SA (Third Quarter Earnings) 28-Oct-21
DTC DataTec Ltd (Interim Results) 28-Oct-21
EOH EOH Holdings (Full Year Results) 28-Oct-21
FBR Famous Brands (Interim Results) 27-Oct-21
GLEN Glencore PLC (Production Report) 29-Oct-21
IMP Impala Platinum Holdings Ltd (Production Report) 29-Oct-21
SSW Sibanye Stillwater (Operational Update) 28-Oct-21
INTERNATIONAL
Ticker Company Date
AMZM US Amazon.com Inc (Third Quarter Earnings) 28-Oct-21
GOOGL US Alphabet Inc  (Third Quarter Earnings) 29-Oct-21
AAPL US Apple Inc (Fourth Quarter Earnings) 28-Oct-21
BA US Boeing Co (Third Quarter Earnings) 27-Oct-21
KO US Coca-Cola Co (Third Quarter Earnings) 27-Oct-21
CMCSA US Comcast Corp (Third Quarter Earnings) 28-Oct-21
FB US Facebook Inc (Third Quarter Earnings) 25-Oct-21
F US Ford Motor Co (Third Quarter Earnings) 27-Oct-21
GE US General Electric Co (Third Quarter Earnings) 26-Oct-21
HEIA NA Heineken NV (Third Quarter Earnings) 27-Oct-21
066570 KS LG Electronics Inc (Third Quarter Earnings) 28-Oct-21
MCD US McDonald’s Corp (Third Quarter Earnings) 27-Oct-21
MSFT US Microsoft Corp (First Quarter Earnings) 26-Oct-21
005930 KS Samsung Electronics Inc  (Third Quarter Earnings) 28-Oct-21
SAN FP Sanofi (Third Quarter Earnings) 28-Oct-21
V US Visa Inc (Fourth Quarter Earnings) 26-Oct-21
Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $

Cross Currencies ($)

Major Indices

Gold 1800,35 (+0.68) USD/ZAR 14,79 Top40 60524,55 (+1.63)
Platinum 1049,40 (-0.52) GBP/ZAR 20,38 Dow 30 35677,02 (+0.21)
Brent 85,28 (+1.58 EUR/ZAR 17,24 S&P 500 4544,90 (-0.11)
Copper 4,55 (-0.22) EUR/USD 1,1659 FTSE 7204,55 (+0.20)
Palladium 2033,00 (-0.18) USD/JPY 113,58 DAX 15542,98 (+0.45)
Iron Ore 112,00 (-2.68) BITCOIN 61889,30 Shanghai 3598,00 (+0.39)
Source:  Investing.com