Tradewise Report

on . Posted in Investment general

The Nikkei Index climbed to a fresh six-month high on Tuesday, as strong earnings from the likes of Nissan Motor Co suggested Corporate Japan has managed to weather a recent rise in the national sales tax. Nissan jumped 4.5 percent and was the second-most traded stock by turnover after the automaker's April-June operating profit rose a higher-than-expected 13.4 percent to 122.6 billion yen ($1.20 billion).
The Hang Seng Index climbed higher on Tuesday from its best close in more than 3-1/2 years on spill over from improving views of the Chinese economy. Stocks related to Shanghai's Free Trade Zone outperformed, ahead of a new law to provide a legal basis for reform measures in the pilot zone which is to take effect on August 1.
According to Reuters, European stocks edged lower on Monday, with unspectacular U.S. data and new European sanctions against Moscow offsetting strong earnings updates from firms like Ryanair and spin-off talk from Reckitt Benckiser.
Wall Street stocks slipped on Monday as weak data on the housing market and services sector gave the latest indications that economic conditions were getting worse, taking the S&P 500 below a key support level. Investors found few reasons to buy because the data followed some high-profile disappointments in earnings, including from Amazon.com and Caterpillar last week.
Business Day reports that the JSE All Share Index closed higher on Monday, just below previous record levels. as gold and banking shares pushed the market higher. The ending of a strike in the metals industry in South Africa also supported positive sentiment. The gold index gained 2.02% despite a lower gold price but helped by a slightly weaker rand. Banks were up 1.61%. with industrials gaining 0.88%, mainly on strong performances by Naspers and Remgro. Financials firmed 0.75%.
The Rand is trading weaker at R10.5723 against the US Dollar, with the Euro quoted at R14.2009 and the British Pound at R17.9142
The gold price last traded at $1305.05, with the platinum price quoted at $1,479.25, while the palladium price is trading at $876.30
Brent was last trading slightly lower at $107.44 a barrel.

Traders Corner

on . Posted in News Flash

US markets closed off their initial intraday lows to end positive bar the Nasdaq which was only a tenth of a percent lower. Asia is carrying the positive momentum this morning, which should flow through to the local front. The Rand is surprisingly continuing to weaken, currently trading R10.59/$, with gold last at $1305 an ounce. World futures are trading +0.1%

Key macro events:

  • SA Money supply

  • SA Private sector credit

  • SA Unemployment – exp: 25.4%

  • US S&P CaseShiller Composite

  • US Consumer confidence

 

Tradewise Report

on . Posted in Investment general

The Nikkei Index climbed over 03% to a six-month high on Monday, testing a key resistance level around 15,500 points, with investors anticipating more improvements in company earnings.

The Hang Seng Index climbed higher on Monday, with the shares on mainland China jumping to their highest level since December with banking shares leading the gainers after BoCom or Bank of Communications (China's fifth-biggest bank by assets planned to sell shares to private investors under a government reform aimed at letting private capital play a bigger role in the economy.

Reuters reports that European markets are expected to open higher on Monday.

According to Reuters, Wall Street closed broadly lower on Friday with the S&P 500 Index ending the trading session down about 0.5% with many traders watching to see whether the bench index can finally breakout above the 2,200 points, while the shares of Visa fell 4% and dragged the Dow down.

Business Day reports that the JSE All Share Index closed lower on Friday, ending a volatile week governed by a surge in the resources sector with shares such as Anglo and Kumba leading the advance following their respective results.

The Rand is trading slightly firmer at R10.5039 against the US Dollar, with the Euro quoted at R14.0975 and the British Pound at R17.7843

The gold price last traded at $1304.71, with the platinum price quoted at $1,479.75, while the palladium price is trading at $878.00.

Brent was last trading slightly higher at $107.95 a barrel.

Traders Corner

on . Posted in News Flash

US markets took a much needed breather into Friday’s close, but Asian markets are rallying with the share price of Tencent trading 3% higher as the company gets approval from Chinese regulators to open a private bank in the world’s second largest economy. The Rand is stable at R10.49/$ before this afternoon’s strike decision by the union, while the price of gold is trading at $1,305 an ounce. FTSE futures are trading +0.4%

Key macro events:

  • US Markit composite PMI

  • US Markit services PMI

  • US Pending home sales