Daily Report 08 November

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:  

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
Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

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