Daily Report 11 November

SA Company News:

The JSE All Share Index closed up 0.4% at 68 279. Stefanutti Stocks expects to report a loss per share from continuing operations of between 50c and 70c for its six months to end-August. Grindrod Shipping Holdings Ltd announced it will release its third quarter 2021 financial results for the three and nine month periods ended 30 September 2021 on Wednesday, 17 November 2021, after market closing in New York.

SA Economy:

Attention will be focused on the mid-term budget policy statement today. Mining and manufacturing data for September will also be released later today. The Independent Communications Authority of SA (Icasa) has opened a new process for temporary spectrum licences, giving companies five days to submit applications and the regulator will make its final decision by 26 November.

Global Economy:

Economic advisers to the German government cut their 2021 growth outlook to 2.7%, down from the 3.1% they expected in March but raised their outlook for 2022 to 4.6%. U.S. inflation hit a three-decade high in October of 6.2% as supply shortages and strong consumer demand continue to push up prices. U.K GDP climbing just 1.3% in the third quarter, a sharp slowdown from the 5.5% rate in the previous quarter.

Global Company News:

Tencent Holdings Ltd, in its quarterly earnings release posted net profit of 39.51 billion yuan ($6.18 billion) for the July-to-September quarter. Revenue grew 13% to CNY142.37 billion. The company’s growth was weighed down by weak gaming revenue growth, which has been slowing since the beginning of the year. Chinese property developer Evergrande has avoided another potential default with last-minute interest payments on three of its US-dollar-denominated bonds. Evergrande’s shares rose 5.5%. US stocks closed lower after CPI figures showed that inflation jumped more than expected. Walt Disney (DIS) released earnings per share at $0.37, compared to market expectations of $0.51. After his recent Twitter poll, Elon Musk sold 4.5 million shares to pay income taxes on equity options that he exercised. 

Commodities:

Gold lost 0.31% to $1 848/oz and Platinum 1.2% to $1 075. Brent crude was 0.19% lower at $83 a barrel.

Currencies:

The rand traded at R15.42 against the US Dollar, R20.65 against  British Pound and R17.72 against the Euro. The Euro is weaker against the US Dollar, trading at $1.147.

 

Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1856,85 (+1.58) USD/ZAR 15,41 Top40 61537,83 (+0.47)
Platinum 1081,40 (+2.27) GBP/ZAR 20,68 Dow 30 36079,94 (-0.67)
Brent 82,79 (-2.91) EUR/ZAR 17,69 S&P 500 4646,71 (-0.83)
Copper 4,36 (-0.23) EUR/USD 1,1479 FTSE 7340,15 (+0.90)
Palladium 2032,50 (+0.04) USD/JPY 113,95 DAX 16067,83 (+0.17)
Iron Ore 84,50 (-3.55) BITCOIN 64692,50 Shanghai 3525,88 (+1.51)
Source:  Investing.com