23/09/2016
South African Market Review
South African markets rallied
yesterday, following the South
African Reserve Bank's (SARB)
decision to keep benchmark interest
rate unchanged. Platinum miners,
Lonmin climbed 6.4%, while its peers,
Impala Platinum Holdings and Royal
Bafokeng Platinum jumped 6.3% and
2.6%, respectively. Gold miners,
AngloGold Ashanti and Sibanye Gold
advanced 5.3% and 3.0%,
respectively. Retailer, Shoprite
Holdings closed 4.2% higher. Peers,
Pick n Pay Stores and Steinhoff
International Holdings NV added 3.8%
and 3.0%, respectively. Luxury goods
maker, Cie Financiere Richemont SA
was 4.1% up. On the flipside, home
products company, Italtile fell 4.6%.
The JSE All Share index advanced
2.2% to close at 51,895.18.
Global Markets Review
UK markets closed in the green
yesterday, bolstered by gains in
mining and crude oil firms, after the
US Federal Reserve (Fed) kept its key
interest rate steady at its September
meeting. Glencore climbed 5.5%.
Peers, Fresnillo and BHP Billiton
advanced 5.2% and 4.1%,
respectively, amid gains in metal
prices due to weakness in the
greenback. Oil majors, BP and Royal
Dutch Shell edged up 2.4% and 1.7%,
respectively, on higher crude oil
prices. Rolls-Royce Holdings added
1.0%, after it appointed Daily Mail &
General Trust's, up 1.4%, CFO,
Stephen Daintith, to replace its CFO,
David Smith. On the contrary,
Pearson slid 1.0%. The FTSE 100
index advanced 1.1%, to close at
6,911.40.
US markets ended higher yesterday,
extending their prior session rally,
with the Nasdaq Composite index
notching a record high. Energy
majors, Transocean and Murphy Oil
Corp. surged 5.6% and 4.3%,
respectively. E-commerce giant,
Amazon.com Inc. closed 1.9% higher.
Home furnishing retailer, Bed Bath &
Beyond Inc. added 0.7%, despite its
2Q17 earnings trailing market
forecasts. Yahoo Inc.'s ended
marginally higher. The internet
pioneer reported a data breach that
exposed at least 500.00mn user
accounts. On the losing side, telecom
company, Level 3 Communications fell
2.1%. The S&P 500 index rose 0.6%
to settle at 2,177.18, while the DJIA
index advanced 0.5% to close at
18,392.46. The NASDAQ index climbed
0.8% to end the trading session at
5,339.52.
Markets in Asia are trading mostly
higher this morning. In Japan, Matsui
Securities and Sony Financial Holdings
have plunged 7.8% and 5.8%,
respectively. Auto exporters, Mazda
Motor and Toyota Motor have shed
3.5% and 2.9%, following a stronger
Japanese Yen. Lender, Mitsubishi UFJ
Financial Group has slid 1.7%.
Bucking the trend, telecom stocks,
KDDI and NTT Docomo have advanced
2.6% and 1.5%, respectively. In Hong
Kong, CK Hutchison Holdings and
Wharf Holdings have risen 0.7% and
0.6%, respectively. In South Korea,
index major, POSCO has added 0.2%,
while Samsung Electronics has slipped
2.2%. The Nikkei 225 index is trading
0.1% lower at 16,787.16. The Hang
Seng index is trading 0.1% up at
23,766.31, while the Kospi index is
trading 0.1% higher at 2,050.90.
Economic & company releases
US: Flash manufacturing PMI (15:45)
Exp 52.1
SA: Moneyweb finals
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