Daily Report 02 November

SA Company News:

The JSE All-Share index closed 0.4% lower at 67 465. In an earnings update for the six months to end September, Telkom said its headline earnings per share will increase by between 25% to 35%. Telkom’s share price rose 5% to R51.39. Net1 UEPS Technologies announced that it will acquire 100% of the fintech company, the Connect Group, for approximately R3.7 billion. Massmart’s total sales for the 39-week period ended 26 September 2021 amounted to R60.6 billion, increasing by 0.2% over the prior year. The Foschini Group expects headline earnings to be 384.8c- 401.5c per share for the period from April to September from a loss of 83c. 

SA Economy:

South Africa’s trade surplus shrank to R22.24 billion in September after recording a trade surplus of R42.40 billion in August. Petrol prices of both 93 and 95 will increase at midnight tonight by R1.21/l and diesel will increase by R1.48. South Africa starts to count the votes after Monday’s municipal elections.

Global Economy:

The Euro Zone economy expanded by 2.2% in the three months to September 2021, slightly beating market expectations of 2.0%. China’s manufacturing purchasing managers’ index fell to 49.2 as power shortages and surging commodity prices weighed on manufacturing. China locks 30 000 visitors inside Shanghai Disneyland after the Covid-19 case is detected. Investors are awaiting the U.S. Federal Reserve policy meeting on Wednesday. The Bank of England will hand down its policy decision on Thursday.

Global Company News:

British bank Barclays CEO, Jes Staley steps down under pressure from regulators about how he characterised his relationship with Jeffrey Epstein. Standard Chartered PLC’s pretax profit rose 44% to $1.075 billion in the third quarter. The bank said that it expects credit impairment to remain low in the fourth quarter. Apple Inc is cutting back on the production of iPad tablets to allocate more components to the iPhone 13. Tesla CEO Elon Musk says Hertz still needs to sign a contract with the company.

Commodities:

Spot gold traded lower at $1 794/oz on Friday. Brent crude was relatively flat on the day at $84.41 per barrel. Ministers from the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies – collectively known as OPEC+ meet on November 4 to decide output policy. Platinum was down 0.49% to $1 017/oz, but palladium rose 0.33% to $1 999/oz. Iron ore futures fell below $100 per ton on shrinking steel output in China.

Currencies:

The rand was quite volatile against the US dollar as it swung from R14.70/$ on Monday to R15.23/$ on Friday. The US dollar is flat at $1.161 against the euro.

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Economic Calendar for the week:  

2021/11/02

SOUTH AFRICA
Country Economic Event Date
SA Total Vehicle Sales (YoY)(Oct) 02-Nov-21
SA Total Vehicle Sales (Oct) 02-Nov-21
SA Standard Bank PMI (Oct) 03-Nov-21
SA Standard Bank PMI (Oct) 04-Nov-21
SA Budget Balance 04-Nov-21
SA Budget Balance 04-Nov-21
SA Foreign Reserves (USD) (Oct) 05-Nov-21
SA Net FX Reserves (USD) (Oct) 05-Nov-21
 
INTERNATIONAL
Country Economic Event Date
CNY Caixin Manufacturing PMI (Oct) 01-Nov-21
GBP Manufacturing PMI (Oct) 01-Nov-21
USD ISM Manufacturing PMI (Oct) 01-Nov-21
JPY BoJ Monetary Policy Statement 02-Nov-21
JPY Japan – Holiday 03-Nov-21
GBP Composite PMI (Oct) 03-Nov-21
GBP Services PMI (Oct) 03-Nov-21
EUR ECB President Lagarde Speaks 03-Nov-21
USD ADP Nonfarm Employment Change (Oct) 03-Nov-21
USD Crude Oil Inventories 03-Nov-21
USD ISM Non-Manufacturing PMI (Oct) 03-Nov-21
USD FOMC Statement 03-Nov-21
USD Fed Interest Rate Decision 03-Nov-21
USD FOMC Press Conference 03-Nov-21
GBP Construction PMI (Oct) 04-Nov-21
GBP BoE Inflation Report 04-Nov-21
GBP BoE Interest Rate Decision (Nov) 04-Nov-21
USD Initial Jobless Claims 04-Nov-21
EUR ECB President Lagarde Speaks 04-Nov-21
GBP BoE Gov Bailey Speaks 04-Nov-21
USD NonFarm Payrolls (Oct) 05-Nov-21
USD Unemployment Rate (Oct) 05-Nov-21
 
SOUTH AFRICA
Ticker Company Date
AFT Afrimat Ltd (Interim results) 03-Nov-21
ART Argent Industrial Ltd (Interim results) 04-Nov-21
CAT Caxton (FY21 Earnings) 02-Nov-21
DCO Dis-Chem Pharmacies Ltd (Interim results) 02-Nov-21
MTN MTN Group Ltd (Trading Update) 03-Nov-21
OCT Octodec Investments Ltd (4Q21 Earnings) 04-Nov-21
QLT Quilter PLC (Trading Update) 04-Nov-21
VLE Value Group Ltd (Interim results) 04-Nov-21
INTERNATIONAL
T Company Date
AKAM US Akamai Technologies  (3Q21 Earnings) 02-Nov-21
BABA US Alibaba Group Holding Ltd (2Q22 Earnings) 05-Nov-21
AIG US American International Group  (3Q21 Earnings) 04-Nov-21
BP/ LN BP PLC (3Q21 Earnings) 02-Nov-21
COP US ConocoPhillips (3Q21 Earnings) 02-Nov-21
CSGN SW Credit Suisse Group AG (3Q21 Earnings) 04-Nov-21
DBS SP DBS Group Holdings Ltd (3Q21 Earnings) 05-Nov-21
EA US Electronic Arts Inc (2Q22 Earnings) 03-Nov-21
EL US Estee Lauder Cos Inc  (1Q22 Earnings) 02-Nov-21
G1A GR GEA Group AG (3Q21 Earnings) 05-Nov-21
GPN US Global Payments Inc (3Q21 Earnings) 02-Nov-21
K US Kellogg Co (3Q21 Earnings) 04-Nov-21
L US Loews Corp (3Q21 Earnings) 01-Nov-21
MET US MetLife Inc (3Q21 Earnings) 03-Nov-21
8058 JP Mitsubishi Corp (1H22 Earnings) 05-Nov-21
5703 JP Nippon Light Metal Holdings Co (1H22 Earnings) 01-Nov-21
NXPI US NXP Semiconductors NV (3Q21 Earnings) 01-Nov-21
PFE US Pfizer Inc (3Q21 Earnings) 02-Nov-21
RL US Ralph Lauren Corp (2Q22 Earnings) 02-Nov-21
9434 JP SoftBank Corp (1H22 Earnings) 04-Nov-21
SYY US Sysco Corp (1Q22 Earnings) 03-Nov-21
TMUS US T-Mobile US Inc (3Q21 Earnings) 02-Nov-21
VIAC US ViacomCBS Inc (3Q21 Earnings) 04-Nov-21
WU US The Western Union Co (3Q21 Earnings) 02-Nov-21

 

 

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Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1794,95 (-0.10) USD/ZAR 15,44 Top40 60807,87 (-0.47)
Platinum 1061,75 (+4.07) GBP/ZAR 21,08 Dow 30 35913,84 (+0.51)
Brent 84,89 (+1.32) EUR/ZAR 17,92 S&P 500 4613,67 (+0.37)
Copper 4,34 (-1.84) EUR/USD 1,1607 FTSE 7288,62 (+0.54)
Palladium 2045,50 (+2.58) USD/JPY 113,72 DAX 15806,29 (+0.70)
Iron Ore 101,50 (-8.37) BITCOIN 61673,20 Shanghai 3483,67 (-1.76)
Source:  Investing.com