Daily Report 08 February 2022

SA Company News:

The JSE All Share Index closed 0.63 % higher at 75 680, as high commodity prices boosted mining stocks and tracking gains in US stocks. Aspen Pharmacare has partnered with German-based Siemens to ramp up vaccine production in Africa. Aspen is in the process of licensing the rights for the first African Covid-19 vaccines, it will be launched as Aspenovax during the second quarter of 2022. In a trading statement released from Sasol, the company is expected to deliver a mixed set of results for the six months ended 31 December 2021 where earnings per share (EPS) is expected to be between R22,81 and R25,15 compared to the prior half year earnings per share of R23,41. Headline earnings per share (HEPS) is expected to be between R14,25 and R16,17 compared to the prior half year headline earnings per share of R19,16. Sasol will release its 2022 interim financial results on Monday, 21 February 2022. Liberty will delist from the JSE on 1 March after Standard Bank’s offer to buy out all shareholders in the company.

SA Economy:

The SA health regulator has registered the Chinese Covid-19 vaccine Sinopharm, effectively clearing the way for its use in the country, although a senior health official said the government was not planning to procure doses for now. President Cyril Ramaphosa will deliver the state of the nation address on Thursday, and he is expected to detail progress by the government in its plans to attract foreign investment and help kick-start an economy still battling to recover from Covid-19.

Global Economy:

The U.S. economy is likely to encounter a new challenge with the release of CPI for January on Thursday. The U.S. January payroll data that was released on Friday showed that the annual growth in the average hourly earnings climbed to 5.7% from 4.9%. Retail sales in the United Kingdom increased 8.1% in January 2022 compared to a 0.6% rise in the previous month.

Global Company:

Chinese share struggled for direction this morning after the week-long Lunar New Year holiday. The Shanghai Composite fell 0.5% to 3 410.  US-listed Chinese technology stocks fell, with losses from Alibaba down 6% and Baidu losing 1.8%. The FTSE 100 index closed 0.76% firmer yesterday at 7 573, buoyed by gains in banking shares. US markets ended mostly lower yesterday as Meta fell another 5%. The stock has now dropped 30% since the company’s earnings report last week.

Commodities:

Gold is up 0.69% to $1 820/oz, while Platinum is down 0.56 % to $1 020/oz. Brent crude was 0.18% firmer at $92.95a barrel.

Currencies:

The rand traded at R15.52 against the US Dollar, R21.00 against British Pound and R17.75 against the Euro. The Euro has weakened against the US Dollar slightly to trade at $1.141.

Brent Oil Futures
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Gold Futures
Top 40 Futures

 

Market Indicators

Commodities $ Cross Currencies ($) Major Indices
Gold 1820,42 0,69% USD/ZAR 15,52 Top40 69198,00 0,75%
Platinum 1020,70 -0,56% GBP/ZAR 21,00 Dow 30 35091,13 0,00%
Brent 92,95 0,18% EUR/ZAR 17,75 S&P 500 4483,87 -0,37%
Copper 4,46 0,26% EUR/USD 1,14 FTSE 7573,47 0,75%
Palladium 2243,00 -1,58% USD/JPY 115,45 DAX 15206,64 0,70%
Iron Ore 143,50 0,00% BITCOIN 44699,30 Shanghai 3446,74 0,71%
Source:  Moneyweb & Investing.com