Daily Report 09 November

SA Company News:

The JSE All Share Index closed 0.33% higher at 68 049. AngloGold Ashanti Ltd reported earnings before interest, taxes, depreciation and amortization of $448 million, up 5% from the second quarter. A trading statement from chemicals company Omnia says its headline earnings will grow by between 95% and 115% in the six months to end-September 2021.  Redefine Properties resumed annual dividend payments on improved liquidity. Redefine declared a dividend of 60.12 cents. Telkom delivered strong earnings growth. Headline earnings per share was up 30.4% to 285.5 cents. Mobile data revenue up 6.1% to R6 374 million and mobile customer base up 18.8% to 16.3 million. Impala Platinum Holdings Ltd said that it won’t be pursuing the acquisition of Royal Bafokeng Platinum Ltd.

SA Economy:

Trade unions is calling upon Finance Minister, Enoch Godongwana for a massive stimulus package that will boost the economy when he delivers his medium-term budget policy statement on Thursday. South African ports continue to take strain with shutdowns of factories in China and global supply shortages have caused the volume of ocean freight into and out of SA to drop by 6% in 2020.

Global Economy:

The rising Covid-19 count is weighing on investor sentiment in Europe. Retail sales in the U.K. rose 1.3% in October ahead of the Christmas shopping season. Investors are cautious ahead of US and China inflation figures due for release tomorrow.

Global Company News:

Chinese equities continue to struggle for direction as persistent worries about the real estate sector’s liquidity issues weighed on property stocks. Chinese property developer Kaisa Group Holdings Ltd started disposing of assets to meet investor obligations. Evergrande Group raised another $145 million by selling part of its shares in a film production and internet-media company. U.S. stocks closed at record highs yesterday with the Dow at 36 432 and the S&P 500 at 4701. Tesla shares fell 4% after Elon Musk’s Twitter followers voted in favour of him selling 10% of his stock in order to pay tax.

Commodities:

Gold is at $1 823/oz and Platinum is trading 1.29% higher at $1 046. Brent crude was 0.42% weaker at $83.32 a barrel. 

Cryptocurrencies.

According to a Bloomberg report, the overall market cap of cryptocurrencies hit $3.01 trillion. Bitcoin rose as much as 5.5% to $66 339, nearing its previous record of about $67 000.  

Currencies:

The rand is trading firmer at R14.92/$. The euro is also slightly firmer at $1.159.

 

Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1827,15 (+0.27) USD/ZAR 14,90 Top40 61317,75 (+0.33)
Platinum 1054,00 (+0.74) GBP/ZAR 20,24 Dow 30 36432,22 (+0.29)
Brent 83,44 (-0.28) EUR/ZAR 17,30 S&P 500 4701,70 (+0.09)
Copper 4,39 (+0.68) EUR/USD 1,1604 FTSE 7300,40 (-0.05)
Palladium 2056,00 (+0.16) USD/JPY 112,78 DAX 16046,52 (-0.05)
Iron Ore 89,00 (+0.00) BITCOIN 68034,50 Shanghai 3508,24 (+0.24)
Source:  Investing.com