Daily Report 17 November

SA Company News:

The JSE All Share Index closed at another record high of 70 938 with both Naspers and Prosus gaining almost 5%.  Stor-Age reported that half-year property revenue is up 10% to R431 million, with headline earnings up 22% to 54.4c per share. The company increased its dividend per share by 9% to 56.6c for the six months to September. Stor-Age’s share price gained 3.3% to R14.41. PPC’s trading update stated that headline earnings per share for the period for continuing operations is expected to be between 52 cents and 57 cents per share, an increase of between 72% and 89% compared to the 30 cents per share for the prior period. Prosus NV expects earnings per share for the six months that ended on September 30, to be up between 439% and 446% from $1.85 per share for the corresponding year-earlier period, as it gained proceeds of $12.3 billion from selling part of its stake in Tencent in April. Prosus is due to report earnings on November 22. 

SA Economy:

Eskom has warned that load shedding could kick in at short notice after five of its units failed yesterday.  The South African Commercial Catering and Allied Workers Union (SACCAWU), an affiliate union of COSATU said it will commence strike action from 19 November at all Massmart companies. 

Global Economy:

U.S. retail sales rose by 1.7% in October, a sign that consumers are willing to spend more, heading into the holiday season despite rising inflation. Japan unexpectedly registered a trade deficit of JPY 67.37 billion in October 2021, missing market consensus of a surplus of JPY 310.0 billion. Persistent worries about inflation remains a worry for investors. The U.K. and the euro zone will release inflation data this morning, with investors looking for hints as to how central banks will move in the coming months.

Global Company News:

Walmart Inc shares closed 2.55% lower at $143.17 after high labour and supply chain costs impacted quarterly margins. Walmart’s same-store sales in the U.S. rose by 9.2%. Home Depot reported strong earnings, with earnings per share up 23% in the last quarter to $3.92. Shares closed 5.8% higher at $392.43. 

Commodities:

Gold settled at $1850 an ounce. Oil was 0.32% lower at $82.30 per barrel.

Currencies:

The rand is trading at a 10-month low against the US Dollar ahead of local inflation data for October. The rand is trading at R15.49 against the US Dollar, R20.84 against  British Pound and R17.56 against the Euro. The US Dollar remained in strong against the Euro. Trading at $1.1298.

Brent Oil Futures
.
Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1854,00 (-0.34) USD/ZAR 15,41 Top40 64166,00 (+1.08)
Platinum 1068,00 (-0.93) GBP/ZAR 20,68 Dow 30 36142,00 (+0.15)
Brent 81,6 (-0.66) EUR/ZAR 17,69 S&P 500 4700,00 (+0.39)
Copper 434,90 (+0.01) EUR/USD 1,1479 FTSE 7326,00 (-0.34)
Palladium 2162,00 (+0.40) USD/JPY 113,95 DAX 16249,00 (+0.68)
Iron Ore 87,90 (-0.34) BITCOIN 64692,50 Shanghai 3537,00 (+0.44)
Source:  Investing.com