SA Company News:
The JSE All Share Index was led lower by miners, banks and tech stocks and closed 0.49% down at 67 825. A trading update from Pepkor stated that it expects headline earnings to increase by between 95% and 115%. MTN shares rose a further 12% on Friday on news that Nigeria had approved in principle its license application to operate mobile-money services in the country. MTN values its mobile-money (MoMo) arm at about $5 billion. BHP Group to sell its controlling stake in coal mine BMC metallurgical to Stanmore Resources for $1.35 billion. Lewis Group advised shareholders that the company expects headline earnings for the six months ended 30 September 2021 to be between 20% and 30% higher.
SA Economy:
Eskom implemented stage 4 load-shedding on Friday, after units at the Lethabo and Majuba power stations were delayed in returning to service. Foreign exchange reserves rose to $57.52 billion in October of 2021 from $57.06 billion in September. The increase in foreign exchange reserves was mainly due to the increase in the US dollar gold price. Investors will be waiting for the medium-term budget policy statement from the finance minister to be delivered on Thursday.
Global Economy:
The US economy added 531 000 new jobs in October 2021, above market expectations of 450 000. The US unemployment rate fell to 4.6%. China’s trade surplus rose to a record high of $84.54 billion in October 2021 from $57.32 billion in the same month a year earlier as supply chain disruptions eased. The index of coincident economic indicators in Japan fell to its lowest in a year to 87.5 in September 2021. Traders await key US inflation data due for release on Wednesday.
Global Company News:
Property developer Evergrande raised more than $50 million by selling two of its private jets to help avert a default on its U.S. dollar debt. Pfizer shares closed higher after the company said its Covid-19 pill reduced hospitalisations and deaths in high-risk patients by 89%. Berkshire Hathaway’s net earnings fell 66% to $10.34 billion.
Commodities:
Gold was flat at $1 81/oz and Platinum rose 0.85% to $1 033. Brent Crude rose 0.8% to $81.18 per barrel.
Currencies:
The rand was 0.35% firmer at R14.96/$. The euro remains stable against the dollar, trading at $1.155.
Economic Calendar for the week: |
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| 2021/11/08 | ||
| SOUTH AFRICA | ||
| Country | Economic Event | Date |
| SA | Foreign Reserves (USD) (Oct) | 08-Nov-21 |
| SA | Net FX Reserves (USD) (Oct) | 08-Nov-21 |
| SA | Business Confidence | 08-Nov-21 |
| SA | Gold Production (YoY) (Sep) | 11-Nov-21 |
| SA | Mining Production (Sep) | 11-Nov-21 |
| SA | Manufacturing Production (Mom) (Sep) | 11-Nov-21 |
| SA | Medium Term Budget Balance | 11-Nov-21 |
| INTERNATIONAL | ||
| Country | Economic Event | Date |
| USD | Fed Chair Powell Speaks | 08-Nov-21 |
| GBP | BoE Gov Balley Speaks | 08-Nov-21 |
| EUR | ECB President Lagarde Speaks | 09-Nov-21 |
| USD | PPI (MoM) (Oct) | 09-Nov-21 |
| USD | Fed Chair Powell Speaks | 09-Nov-21 |
| GBP | BoE Gov Balley Speaks | 09-Nov-21 |
| USD | EIA Short-Term Energy Outlook | 09-Nov-21 |
| USD | Core CPI (MoM) (Oct) | 10-Nov-21 |
| USD | Initial Jobless Claims | 10-Nov-21 |
| USD | Crude Oil Inventories | 10-Nov-21 |
| CNY | Industrial Production (YoY) (Oct) | 11-Nov-21 |
| GBP | GBP (YoY)(Q3) | 11-Nov-21 |
| GBP | Manufacturing Production (MoM) (Sep) | 11-Nov-21 |
| EUR | ECB Forecast | 11-Nov-21 |
| USD | JOLTs Job Openings (Sep) | 12-Nov-21 |
| SOUTH AFRICA | ||
| Ticker | Company | Date |
| ANG | AngloGold Ashanti Ltd (3Q21 Production Report) | 08-Nov-21 |
| RDF | Redefine Properties Ltd (FY21 Earnings) | 08-Nov-21 |
| TKG | Telkom SA SOC Ltd (1H22 Earnings) | 10-Nov-21 |
| SAP | Sappi Ltd (FY21 Earnings) | 11-Nov-21 |
| TFG | Foschini Group Ltd (1H22 Earnings) | 11-Nov-21 |
| HAR | Harmony Gold Mining Co Ltd (1Q22 Operational Update) | 11-Nov-21 |
| MEI | Mediclinic International PLC (2Q22 Earnings) | 11-Nov-21 |
| MCG | MultiChoice Group (1H22 Earnings) | 11-Nov-21 |
| GFI | Gold Fields Ltd (3Q21 Operational Update) | 11-Nov-21 |
| CFR | Cie Financiere Richemont SA (1H22 Earnings) | 12-Nov-21 |
| TGO | Tsogo Sun Hotels Ltd (1H22 Earnings) | 12-Nov-21 |
| INTERNATIONAL | ||
| Ticker | Company | Date |
| PYPL US | PayPal Holdings Inc (3Q21 Earnings) | 08-Nov-21 |
| SYY US | Sysco Corp (1Q22 Earnings) | 09-Nov-21 |
| BAYN GR | Bayer AG (3Q21 Earnings) | 09-Nov-21 |
| ABF LN | Associated British Foods PLC (FY21 Earnings) | 09-Nov-21 |
| DIS US | Walt Disney Co (4Q21 Earnings) | 10-Nov-21 |
| ALV GR | Allianz SE(3Q21 Earnings) | 10-Nov-21 |
| MKS LN | Marks & Spencer Group PLC (1H22 Earnings) | 10-Nov-21 |
| ADS GR | Adidas AG (3Q21 Earnings) | 10-Nov-21 |
| MRK GR | Merck KGaA (3Q21 Earnings) | 11-Nov-21 |
| SIE GR | Siemens AG (FY21 Earnings) | 11-Nov-21 |
| MT NA | ArcelorMittal SA (3Q21 Earnings) | 11-Nov-21 |
| BRBY LN | Burberry Group (1H22 Earnings) | 11-Nov-21 |
| AZN LN | AstraZeneca PLC (3Q21 Earnings) | 12-Nov-21 |
| 9984 JP | SoftBank Group Corp (1H22 Earnings) | 12-Nov-21 |
| 700 HK | Tencent Holdings Ltd (3Q21 Earnings) | 12-Nov-21 |
.
Market Indicators |
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| Commodities $ | Cross Currencies ($) | Major Indices | |||||
| Gold | 1822,30 | (+1.41) | USD/ZAR | 14,97 | Top40 | 61115,79 | (-0.48) |
| Platinum | 1046,15 | (+1.04) | GBP/ZAR | 20,20 | Dow 30 | 36327,95 | (+0.56) |
| Brent | 83,67 | (+3.48) | EUR/ZAR | 17,31 | S&P 500 | 4697,53 | (+0.37) |
| Copper | 4,36 | (+0.92) | EUR/USD | 1,1560 | FTSE | 7303,96 | (+0.33) |
| Palladium | 2052,75 | (+1.42) | USD/JPY | 113,57 | DAX | 16054,36 | (+0.15) |
| Iron Ore | 89,00 | (-3.37) | BITCOIN | 65556,70 | Shanghai | 3499,83 | (-0.21) |
| Source: Investing.com | |||||||