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 |