Category: South African Stock Market, Johannesburg Stock Exchange
Last updated: 31 May 2020

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The aim of this page is to provide our readers and visitors with an interactive candlestick chart of the JSE All Share Index. Note our JSE All Share Index Chart is updated at least once a week. For additional sectors or data please contact us.

The main South African Stock Trading market is the JSE, and the main index used to track the overall stock market of South Africa is the JSE All Share Index (Code: j203)

Users can zoom in and out. And as users zoom in and out the graph recalculates the percentage change from the closing value of the All Share Index in the beginning of the chart to the closing value of the All Share Index at the end of the chart.

Users can change the colours of both the negative and positive colours. In addition to this users can download the data used to make this chart (using the arrow at bottom left of graph). Readers can also draw lines, make comments on graph etc and then export the graph with comments and lines as a image.

Data source: Please note our index level data is obtained from PSG Online. (www.psg.co.za)

We trust you will enjoy the additional feature on our website. We will look to add more features, colours and information to the graphic as time goes on. Currently the market (All Share) is being driven mostly by the big heavy weight Naspers (NPN), with it on its own moving the market in South Africa. As our JSE pie chart article showed, Naspers makes up roughly 19.9% of the All Share.

In addition to the JSE All Share chart above, we created a JSE All Share Calendar tracker which tracks the JSE daily performance on a Calendar as well as discussing main events affecting the South African stock market and the broader economy at large. This page can be accessed here.

13 March 2020: World markets in free fall

World markets have been in free fall for just over a week now, and yesterday saw the single biggest declines in the S&P, Nasdaq and Dow Jones Industrial average since Black Monday in 1987.  Read more about the massive declines in US markets here

At home SASOL has been absolutely hammered with the stock having lost 82% of its value in the last 12 months and over 70% in the last month as massive declines in crude oil prices and fears on world stock markets creating the perfect storm for SASOL shares.

A brief overview of global markets as obtained from Peregrine Treasury Services

While the past week offered little in terms of currency movement, the political bickering within the governing party provided a significant dose of frustration, as toeing the party line tops the list of priorities once more while growth continues to falter. 

Global tensions easing
Tensions between Iran and the US seem to have dissipated, while the US and China finally signed phase one of the trade agreement – providing a welcome boost to risk appetite. With US politics making little headlines this week, President Trump took it upon himself to request a “thank you” from US investment bank, JP Morgan Chase, after the bank released the most profitable results for any US bank in history.  

The US economy also remains on a stable footing, with data indicating that the Federal Reserve Bank was on point in its view that no additional interest rate cuts are required to stimulate the world’s largest economy. CPI also remained within expectations at 2.3% year-on-year for December. PPI for the same period also met market expectations at 1.3%, while retail numbers showed a robust uptick of 5.82%.

Across the pond, in the UK, manufacturing production contracted more than expected in November, slipping 1.7% month-on-month, followed by dismal industrial production performance, which shed 2%. The once-thriving economy also offered little excitement in terms of economic growth, with GDP contracting to 0.6% year-on-year. CPI slowed to 1.3% year-on-year in December. Friday will see the release of retail sales, which are expected to show some improvement for December.

With China no longer deemed a currency manipulator by the US, for now, all is well between the worlds’ two largest economies. Wednesday saw the Chinese Central Bank take proactive measures to avoid a liquidity squeeze during Lunar New Year (25 January), by injecting $58 billion into the banking system, while keeping interest rates on loans unchanged. Both imports and exports accelerated year-on-year in December, rising 16.3% and 7.6% respectively and grossly overshooting expectations. Fixed asset investment, retail sales as well as industrial production are due for release on Friday, while the spotlight will fall on GDP for Q4 2019.

SA remains split politically and beholden to Eskom economically 
Local politics has never been a walk in the park, and while no-one is oblivious to the divisions within the ruling party, this week once again laid the tension bare for all to see. Following the reinforcement of the radical economic transformation policies by President Ramaphosa last weekend, a Twitter war ensued as Finance Minister Tito Mboweni voiced his opinion on the importance of an independent SARB, directly contradicting the ANC resolution to nationalise the central bank. Tempers flared as factions of the ANC ordered Mboweni to toe the party line, even if the “party line” places the interests of the party ahead of the interests of the economy.

The Pravin Gordhan witch-hunt endures, using the opportunity to blame the Minister of Public Enterprises for the turmoil at Eskom, with many calling for his head. The ANC veterans however would have none of it. The veterans put pen to paper to express their support of Gordhan and his efforts at the embattled Eskom. The letter detailed the numerous issues facing Eskom that pre-date the appointment of Gordhan. The attack on the minister is widely considered part of a politically motivated agenda by those implicated in state capture and a continuation of previous efforts to vilify him.

By now, load shedding and sluggish growth have become some of the buzzwords associated with the South African economy, and while the lights have remained on this week, the request by Eskom for municipalities to update their load-shedding schedules to include stage 8 sent chills down our spines, and dampened the prospect of any form of economic recovery in 2020.

The South African Reserve Bank surprised markets on Thursday by cutting interest rates by 25 bps, citing record low inflation and a moribund economic backdrop as the main reasons. While the cut is welcomed by many consumers, it will do little to stimulate growth given the structural woes weighing on the local economy, especially considering the severe economic impact continued electricity supply constraints will pose.

Local retail sales pleasantly surprised markets on Wednesday, expanding 2.6% year-on-year in November. Gold production for the period also gained, adding 5.2% year-on-year, while mining production contracted 3.1% in November. While the local currency has remained resilient amidst the shaky domestic landscape, the expectation for the ZAR remains biased towards weakness.

Rand holds up as bond yields attract investors 
Carry trade has been kind to the rand, as yield seekers continue to flock to local bonds and the reduction in interest rates of 25bps will do little to change this dynamic. We remain eerily aware of the fact that ratings agencies are keeping a close eye on fiscal policy, economic indicators and, very importantly, Eskom as we head towards the highly anticipated budget in February which will be followed by a ratings review by Moody’s in March.
The expected outcome is divided, with the currency forecast for the year ranging from R14.35/$ to R18.00/$, with a happy medium between R15.00 and R16.00 probably being the safest bet.

For now however, the rand remains resilient. A tight range was witnessed throughout the week, with the currency repeatedly testing a break above the next technical level of R14.46. A sustained move will see the rand move a leg weaker to target R14.60. Market jitters will, however, only become clearly visible as we head closer to the budget.

The rand started Friday’s trading day at R14.40/$, R16.04/€ and R18.84/£.

Latest South African Stock Market summary (for the week ending 20 September 2019)

Below the latest Peregrine Treasury services market wrap focusing on South African equities

SOUTH AFRICAN EQUITY
An ultimately negative week was witnessed on local shores, as the only positive day seemed to be Monday which tended to be largely influenced by the MSCI rebalancing implemented on the day. With the oil price ‘going through the roof’ over the weekend, while the South African rand held relatively steady against most major countries, there was really no other reason for local equity markets to have been so strong on Monday. So what happened with regard to the rebalancing?

  • R37 billion volume traded through the JSE All Share Index on the day (2019 daily average: R19.68 billion)
  • Net foreign investor purchasing of SA Inc. (local companies generating revenues primarily in rands) came to around R6 billion
  • Foreigners traded about 30% of the entire SA equity market on the day.
  • Foreign interest on the day was focused on the following sectors:
    • Just under R3 billion worth of consumer sector stocks were purchased
    • Just over R2 billion worth of financial sector stocks were purchased
    • Local funds were one of the only sectors to have been sold out of

Major moves seen with regard to the rebalancing was Prosus (recently unbundled from Naspers) taking Sappi’s seat on the JSE Top 40 index. Sappi was seen dropping around 7% on the day, with R250 million being traded through it.
After a strong Monday, seeing most local indices delivering more than 1%, Tuesday took the role of the ‘Big Bad Wolf’, quickly wiping the smiles off of investor’s faces. On Tuesday, local markets were battered relatively hard. Some of the numbers were as follows:

  • All Share and Top 40 indices: down around 1.60%
  • Resources index: down 0.47%
  • Industrial index: down 1.89%
  • Financial index: down 2.64%

EOH continues to fight an uphill battle, as a trading statement released on Wednesday alluded to further loss expectations, which came as quite a surprise to the market. The potential extent of the loss per share, over the last financial period, starts to point towards a more fundamentally dire situation within EOH. Although the general investor knows that EOH has been trying to carve a new way forward, given the investigations into potentially corrupt historical transactions, the weight of losing client confidence and trust may now start to take effect more materially, should such bitter-tasting announcements continue to be released.

Even though the share price reacted with a swift 13.00% drop on the announcement, it actually recovered back to the day’s opening price of around R12.70 relatively quickly. The 15 October release of the financial results may provide investors with a more certain idea of “where-to next” for EOH, given that the legal team investigating the potentially questionable transactions may provide more transparent insight to the company’s past. Until then, not much action should be expected from the share price. On Friday morning, EOH opened the trading day at R12.35 per share.
Comair (COM) released a surprisingly strong set of results, for the year ended 30 June 2019, which were materially assisted by a payment received from South African Airways with regard to SAA breaching the Competition Act in 2005. Overall, the company actually performed relatively well, when stripping out this once-off payment, however there were still one or two issues which continued to create a dragging-effect on the company:

  • The grounding of the Boeing 737 MAX – of which the company had purchased two (overall impact of the grounding currently costs COM around R195 million); and
  • Problems with maintenance scheduling and inventory management at SAA Technical.

Some of the more favourable numbers for COM were as follows:

  • Revenue up 9% to R7.1 billion from a previous R6.5 billion
  • Profit up by 184% due to R1.1 billion payment from SAA and R168 million worth of interest thereon
  • Earnings per share (EPS) was up 175% to R1.92 per share vs last year’s R0.69 per share
  • Headline EPS was up 184% to R1.97 per share vs 2018’s R0.69 per share

Year-to-date, the JSE All Share index is up 9.33% and the Top 40 up 7.29%.

Read the full Peregrine Treasury Services Market wrap here.

Latest South African Stock Market summary (for the week ending 6 September 2019)

OUTH AFRICAN EQUITY
Closer to home, South African markets edged up slightly, supported by a stronger local currency, off the back of stronger economic growth numbers released earlier in the week.
Some key takeaways came from the likes of Firstrand Bank who saw their normalized earnings jumping 6% to R27.9 billion, for the year ended 30 June 2019. RMB saw once-off hits coming from their private equity division during the year, while Wesbank also suffered slightly, due to the pressured economic climate that South African’s find themselves in. Firstrand Bank, up over 3.3% for the week, opened Friday’s trading day at R61.00 per share.

Behemoth, Discovery, also released their numbers for the year ending 30 June 2019. One can see how they’ve allocated a material amount of money into new ventures, which will hopefully create even more value for shareholders in the future. Some of their numbers were as follows:

  • Normalized profit down 3% to R7.74 billion
  • Headline earnings down 11% to R5.14 billion
  • Normalized headline earnings down 7% to R5.03 billion
  • Discovery Health’s normalized operating profit increased by 10% to R3.04 billion
  • Discovery Life’s normalized operating profit decreased by 9% to R3.23 billion, due to high claims
  • Confirmed that more than 22,000 clients using Discovery Bank within the first two months
  • New business/venture spending increased to R1.31 billion (21% of group earnings)

The economic road ahead will definitely put some strain on Discovery, as citizens and clients become more aware of their spending habits. Having said this, Discovery are laying the foundations to quite an interesting and diversified investment opportunity for the general investor.
On the mining front, DRD Gold was seen increasing their revenue by 11 percent to R2.76 billion. Operating profit was up 5% to R371.8 million, while production output, from their major Ergo mine, was down 4% for the period in question.
For September, so far:

  • All Share and Top 40 indices: up around 1.10%
  • Resources: down around 2.55%
  • Industrials: up around 1.53% (Naspers: up 4.14%)
  • Financials: up around 3.13%

Year-to-date, the JSE All Share index is up 5.19% and the Top 40 up 6.15%. Sector-wise, industrials have now returned 12.57%, resources 5.22% and financials -5.67% for the 2019 year so far.

Read the full Peregrine Treasury Services market wrap here


Latest South African Stock Market summary (for week ending 23 August 2019)

SOUTH AFRICAN EQUITY
South African equities had yet another tough week, even as the rand made a slight comeback, against the US dollar. While the rand was seen strengthening around 0.50% against the US dollar this week, local equity indices also enjoyed a mild 40-50 basis-point move higher. 2019 hasn’t been a great year for the retail sector, with most market values being pressed down quite heavily. Pick n Pay, The Foschini Group and Spar have all fallen between 10% - 20% this year. Truworths, Mr. Price, Massmart and Shoprite have seen between 35% and 60% of their value being stripped from the market in 2019. The only retailer holding it together, albeit seven percent underwater, happens to be Woolworths who have managed to somehow stop the bleeding that they had experienced quite heavily over the last two years, thanks to its underachieving David Jones clothing-arm, based in Australia.

While the underlying consumer experiences the pinch on their pockets, during this tightening economy, it’s interesting to note that both British American Tobacco and Anheuser Busch Inbev are up 53% and 17%, respectively, for the year. Although both companies have experienced the release of some undesirable financial numbers this year, could one start assuming that these ‘all-weather investments’ are starting to come into their own? Even in times of economic depression, tobacco and alcohol continue to successfully sell, as economically-impacted consumers try find ways of brightening up or numbing the gloomy effects brought upon by a global economic slowdown.
For August, so far:

  • All Share and Top 40 indices: down around 4.70%
  • Resources: down around 5.90%
  • Industrials: down around 5.17% (Naspers: down 3.13%)
  • Financials: down around 4.42%

Chemicals and energy company, Sasol, quietly released a concerning statement before last week’s close, relating to their Lake Charles Chemical Project (LCCP) based in Louisiana, United States, where cost controls are seemingly beginning to wane. The growing cost overruns of the LCCP are concerning for Sasol, especially when seen together with the preliminary report pointing towards a possible lack of robust controls in the project. Geographically, Lake Charles is situated within a relatively volatile ‘weather highway’, often falling directly in the path of tropical storms coming off the Gulf of Mexico. Even when up and running, the LCCP is likely to be occasionally disturbed by extreme weather phenomena, raising the possibility of future disruptions in production.

Should Sasol not act towards addressing the control weaknesses flagged in the report, and sooner rather than later, waning investor sentiment could begin to weigh more heavily on the firm. South African investors are well aware that other prominent companies in the recent past have fallen prey to questionable management decisions. This is not to say that Sasol falls among their ranks, but the memory of these fallen stocks is all too fresh in investors’ minds. Sasol did need to delay its results presentation owing to certain international accounting standards and practices that had to be met, and more specifically relating to the control weaknesses raised in the initial independent review which was presented on 14 August 2019.

Although Sasol managed to scrape back their 14% drop since last Friday, the share is still around 41% down, since 01 May 2019. Down around 20% for the month of August, a small ray of hope shone through the clouds for Exxaro’s shareholders, who saw the company releasing reasonable results, especially when looking at the dividends, for the six months ending 30 June 2019. Some of the numbers seen coming out for the period were are follows:

  • headline earnings per share, up 42%
  • revenue, down 2%, to R12 billion
  • net operating profit, down 24%, to R2.4 billion
  • Interim dividend up to R8.64 per share from R3.34
  • Special dividend of R8.97 per share

Year-to-date, the JSE All Share index is up 3.40% and the Top 40 up 4.33%. Sector-wise, industrials have now returned 10.57%, resources 4.09% and financials -8.14% for the 2019 year so far.

Read the full market wrap here


Latest South African Stock Market summary (for week ending 16 August 2019)

SOUTH AFRICAN EQUITY
SA equities haven’t enjoyed the best of months so far, within the turmoil of the global political chess game being played. With the risk-off environment being witnessed, it’s been tough to find any one company that’s been able to hold themselves together, especially where business operations utilize rands. For the month of August, let’s have a look at some of the carnage that’s been happening:

  • All Share and Top 40 indices: down around 5.47%
  • Resources: down 5.86%
  • Industrials: down 4.17% (Naspers: down 4.42%)
  • Financials: down 6.64%

Aspen Pharmaceuticals continues to feel the pain as it announced that it would agree to pay the National Health Services of the U.K. GBP 8 million (R147 million) for displaying anti-competitive behaviour. In 2016, evidence suggested that Aspen had somehow found a way to unfairly keep their competitors out of the market, when looking mainly at the sales of Fludrocortisone – treatment for Addison’s disease. With Aspen still relatively debt-laden, and given its recent lagging market price, further negative sentiment was slapped onto the share, even though the fine wasn’t too material in the bigger picture. Starting the year off at around R134.00 per share, Aspen opened Friday’s trading day at R68.27, falling 24.0% in the month of August alone.

ABSA bank reported a three percent increase in headline earnings to R8.3 billion for the six months to end June. These are promising and positive results for the bank, especially considering the current pressured economic climate, and the rollout of the companywide reorganization strategy seems to have been successfully managed so far. Although ABSA still has a way to go before achieving its long-term growth strategies, it appears to be heading in the right direction. ABSA opened Friday’s trading day at R152.10 per share

Gaining support, through a handful of financing arrangements, Steinhoff have managed to keep their heartbeat going until at least 2021. The heavily debt-laden company, due to one of the biggest South African corporate scandals ever, will now focus wholly on becoming a holding company focusing on retail businesses vs an actual operating retail business. For the foreseeable future, Steinhoff will continue selling off assets in order to claw its way out of its hairy debt situation, as underlying revenues from their current business operations aren’t enough to make a dent. Steinhoff opened Friday’s Trading day at R1.18 per share.

Year-to-date, the JSE All Share index is up 2.09% and the Top 40 up 2.98%. Sector-wise, industrials have now returned 9.06%, resources 3.56% and financials -9.92% for the 2019 year so far.

Read the full weekly market wrap here

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Latest South African Stock Market summary (for week ending 2 August 2019)

SOUTH AFRICAN EQUITY
South African markets took on a very slow start to the week, with no more than R11 billion (average - R22 billion) trickling through the All Share index on Monday’s trading day. Relatively petty news came out of Old Mutual’s slight bickering with their ‘suspending’ CEO, Peter Moyo, and the legal battle that ensues. With a world of more materially important news, this headline is not worth wasting one’s time on - if anything, its more brand-damaging on Old Mutual and Moyo himself.  Mondi reported more favorable results, when looking at their counterpart. Some of the numbers coming out of the paper-based producing firm were as follows:

  • 8% increase earnings per share of EUR 0.962 cents per share.
  • Profit before tax came in at EUR 632 million (up from the previous period by 29%)
  • Earnings before interest, tax, depreciation and amortisation (six months) came in at EUR 894 million (beating the last period by five percent)
  • Ordinary interim dividend of EUR 0.27 cents per share.

Sappi reported an 84% decline in profits to $8 million for the quarter ending 30 June, down from $51 million. A disappointing set of results for the company, although it is somewhat understandable given that many companies are feeling the heat in a slowing global economy. The fact that the company paid a once-off finance charge of $9 million also didn’t help its bottom-line for the quarter. With overall sales having slipped due to weaker demand, it’s likely that a drop in selling prices and profit margins will have impacted a range of products within the paper industry. The effect of this has ultimately reduced overall profits earned, compared to the previous year. The fact that demand was higher last year also didn’t assist Sappi, when comparing the two periods.

Shoprite’s share price rallied by 9%, after the retailer reported that its core business, Supermarkets RSA, increased its sales by 4.9% for the 52 weeks ending 30 June 2019. In general, the move wouldn’t necessarily have been linked to guidance and results being in-line with expectations. The positive move seen in the share price is likely due to stronger sales growth for the period versus the headline earnings numbers which Shoprite actually gave negative guidance on.

Shoprite’s African business seems to be battling it’s way through the dark-and-dreary woods, especially in Angola, where hyper-inflation is veiling the country. Whether Shoprite decides to keep these kinds of countries within their portfolio, or not, could be a large factor, when looking at the firm’s forward-looking trajectory.

For the moment, both declining sales coupled with hyperinflation in Angola is, and will continue to be, a challenging situation for Shoprite to navigate. Currency instability in Angola or any other of Shoprite’s African business operations may force the company to examine its strategic geographic business locations on the continent in the longer run.

Read the full article here


Latest South African Stock Market summary (for week ending 26 July 2019)

Closer to home, local equity markets have largely been directed by the indecisive rand, which has been seen trying to navigate the turbulent oceans shrouded with treacherous siren songs in the form of the public protector saga, the voting-in of Boris Johnson - as U.K.’s next Prime Minister, the surprisingly strong US earnings season and the dragging effect created by the US China trade war, which has seemingly turned stale, in terms of progression or any form of conclusive agreement.

With the above challenges veiling the last week, both the All Share index and Top 40 were seen moving fractionally higher, to the tune of around 0.35% respectively, for the last five trading days. Last Friday, AB Inbev (ANH) agreed to sell their Australian operations, Carlton & United Breweries, to Japan’s Asahi for $11.3 billion. The disposal of ANH’s Australian operations will definitely assist the company in chipping away at its debt pile, albeit at a slower rate than a successful IPO would have achieved. The fact that ANH’s debt burden is now topping the $100 billion mark, coupled with the recent cancellation of its Asian IPO, means that the sale of its Australian business is definitely a step in the right direction. Although one might think that the entire proceeds from the sale would be directed towards alleviating the company’s debt burden, there is a greater possibility of the proceeds being split between repaying its debt and targeting strategic buyouts and expansions within emerging markets, namely the buoyant Asia-Pacific region.

On Tuesday, Kumba Iron Ore (KIO) was seen reporting some extremely good, yet murky sim-month results, which saw the stock actually take a tumble on the day by around 2.93%. Once could say that investor expectations were potentially too high going into earnings. What one saw on the day, was simply the effect of an over-reaction cooling off. Some of their numbers were as follows:

  • EBITDA margin up to 58%
  • Headline EPS was up 239% vs an expected 160% increase (due to iron ore’s 57% run in 2019)
  • Interim dividend of R30.79 per share
  • Revenue numbers up 77% for the period

Reinet (RNI) saw the underlying value of their business being adjusted downward by at least EUR 311 million. This, mainly on the back of British American Tobacco’s dramatic 17.1% drop between April and July this year.

Mondi Ltd (MND) have announced that they will be delisting their local version of the stock, while flipping its primary listing over to their London’s Mondi PLC (MNP) listing. Shareholders holding MND previously will now have their shares converted into the secondary listed MNP on the JSE. On MND’s final day of trading, around R6.7 billion in JSE daily volume was pushed through the stock alone.
If any investor held MND, and is uncertain about the way forward, here’s the conversion timelines advised by the company:

  • Last day to trade in MND: Tuesday, 23 July
  • Listing of MND suspended from: Wednesday, 24 July
  • Response deadline for elections: Wednesday, 24 July
  • Scheme record date: Friday, 26 July
  • Scheme pay date: Monday, 29 July
  • Listing of MND terminated on: Monday, 29 July

Here’s some of the bigger movers on the JSE for the 2019 year so far, painting a relatively clear picture that investors are tending to lean toward the, historically-defined, safer haven segment:

  • Impala Platinum: up 102.07%
  • Kumba Iron Ore: up 68.78%
  • Sibanye Gold: up 85.03%
  • Rebosis Property Fund: down 78.07%
  • Omnia: down 59.61%
  • Brait: down 48.30%

Year-to-date, the JSE All Share index is up 9.34% and the Top 40 up 10.35%. Sector-wise, industrials have now returned 14.82%, resources 12.14% and financials -0.84% for the 2019 year so far.

Read the full weekly market summary here


Latest South African Stock Market summary (for week ending 19 July 2019)

Over the weekend, AB Inbev (ANH) announced the cancellation of their much anticipated Asian IPO on the Hong Kong Stock Exchange. Investors seemed to be worried about the potentially murky state of the company, given the late and unexpected cancellation.

First and foremost, the cancellation of the IPO, will have a small impact on the duration of their expected settlement period, when looking at their debt burden, mainly bought upon by the purchase of SAB in 2016. Although the IPO wasn’t necessarily pivotal in paying off InBev’s debt burden, it certainly would’ve helped. To an immaterial degree, they may have lost shorter-term investor confidence and a potentially increased level of liquidity, with regard to the market price of their share. After stumbling around 3.70% after the announcement, to levels of around R1,210.00 per share, ANH spent the remainder of the week working back its losses and investor confidence. ANH opened Friday’s trading day at R1,234.63 per share

Richemont’s (CFR) Q1 sales numbers came in higher at 12% year-on-year (actual exchange rates) and 9% year-on-year (constant exchange rates). Growth was mainly seen coming out of the Far East countries such as Japan and China. Lower growth figures were seen coming out of the Americas, while Europe, the Middle East and Africa recorded negative growth for the first quarter. While CFR have ventured into the e-commerce business, it’s important to note that margins are a lot tighter within those realms, which could impact operating margins down-the-line. CFR held relatively strong throughout Thursday’s trading day, following the announcement. CFR opened at R120.79 per share on Friday morning.
Here’s some of the bigger movers on the JSE for the 2019 year so far, painting a relatively clear picture that investors are tending to lean toward the, historically-defined, safer haven segment:

  • Impala Platinum: up 99.15%
  • Kumba Iron Ore: up 70.75%
  • Sibanye Gold: up 74.75%
  • Rebosis Property Fund: down 76.58%
  • Omnia: down 61.24%
  • Brait: down 43.17%

Year-to-date, the JSE All Share index is up 9.74% and the Top 40 up 10.72%. Sector-wise, industrials have now returned 14.01%, resources 12.97% and financials 1.45% for the 2019 year so far.

Latest South African Stock Market summary (for week ending 12 July 2019)

With the local political landscape having had a relatively calm two weeks, all eyes were, once again, focused on the Fed’s testimony which was delivered on Wednesday afternoon. In essence, the ebb and flow of the US dollar, vs the local rand, has been the major driver of South African listed stocks. Where resources had a great run last week, this week saw the precious metal sector cooling off by just over one percent. Most other sectors were seen climbing little more than 0.50% in the last five trading days - an extremely tricky trail to navigate.

ArcelorMittal (ACL) were seen releasing a gloomy six-month trading update on Wednesday which stated that the company had been hampered by rigidly high costs which lie outside of the company’s control, including the likes of raw materials, electricity, and rail and port costs. The company is also likely to face additional headwinds, as it navigates the formal consultation process, which will assess the feasibility and impact of the 2,000 job losses potentially being considered as part of the firm’s cost-cutting strategy. ACL were seen closing 15.80% down on the day of the release of this news, closing at a market price of R2.93 per share on Wednesday. Thursday morning saw the stock touching lows of around R2.71 per share. ACL opened Friday’s trading day at R2.90 per share.

Woolworths (WHL) finally caught a much-needed break after having spent most of 2019 under the R50.00 a share mark, due to unfavourable news coming out from its David Jones clothing business in Australia earlier in the year. Thursday morning saw WHL releasing a surprisingly positive trading update for the 53 weeks ending 30 June 2019. Key figures that influenced Woolworths’ stronger-than-expected performance:

  • Sales for the year-ending 30 June: up 5.90%
  • Food sales growth: up 9.80%, for the 52 weeks (maybe the firm should focus more on this business? Imagine an even higher-end Whole Foods-like division, to the already-loved WHL fresh fruit, veg and meat selection. With the robust brand they’ve created, would a risk in venturing into a brand new pioneering segment (within South Africa) be fruitless? Definitely something to think about)
  • General sales prices were up by 1.80% for the year
  • Clothing segment, David Jones, continued to add its adverse drag: one percent increase in local (Australian) sales, for the period

Thursday saw WHL’s stock price racing out of the starting blocks to levels of around R53.06 (8.08% higher on the day) WHL opened Friday’s trading day at R52.95 per share.
Here’s some of the bigger movers on the JSE for the 2019 year so far, painting a relatively clear picture that investors are tending to lean toward the, historically-defined, safer haven segment:

  • Impala Platinum: up 102.29%
  • Kumba Iron Ore: up 66.57%
  • Sibanye Gold: up 66.67%
  • Rebosis Property Fund: down 71.75%
  • Omnia: down 64.50%
  • Brait: down 39.33%

Year-to-date, the JSE All Share index is up 8.60% and the Top 40 up 9.55%. Sector-wise, industrials have now returned 12.90%, resources 11.32% and financials 0.76% for the 2019 year so far.

Latest South African Stock Market summary (for week ending 28 June 2019)

SA equities lagged this week, almost in-line with the strengthening of the rand against the US dollar. It’s interesting to note that that the US dollar index (DXY) is also down around 1.64% so far in June, once again indicating that the rand strength isn’t necessarily all attributed to local happenings. With 2019 starting to feel like one of the most uncertain years witnessed within the millennial lifetime, it’s anyone’s guess as to when the fog will start to clear.

This week, the JSE saw its Top 40 index dipping by around 1.64%, mainly on the back of heavier –weighted dual-listed stocks being negatively impacted by a stronger rand. Examples of these would be Naspers (down around 2.99% for the week), Sasol (down 3.47%), AB Inbev (down 3.77%) and Richemont (remaining flat).

Making news this week, BHP Billiton reached all-time highs of around R366.83 a share on the back of a record breaking rally seen in the iron ore sector due to limited supply. Having said this, BHP will be paying $175 million over to Western Australia, due to a tax dispute – this may put a dampener on the share during Friday’s trading day. Kumba Iron Ore and Exxaro were also dragged higher on the back of the iron ore pump.
MTN saw its local share price stumbling along this week, as its dual listing in Nigeria was seen dropping around 2.40% to 128.75 naira (same levels as a month ago). This all on the back of the R28.65 billion tax dispute being pushed out until 29 October later in the year. MTN opened Friday’s trading day at R107.53 a share.

After bench warming for five years, Exxaro seems as if it’s now ready to join the A-team again on the Top 40 index. This was on the back of a re-rating of the resources sector in general, as well as the extremely strong conditions seen veiling iron ore. The last three years has seen Exxaro ramping up by around 190.00%, catapulting it to levels of around R174.05 a share.

Here’s some of the bigger movers on the JSE for the 2019 year so far, painting a relatively clear picture that the resource sector’s performance stands head and shoulders above most others:

  • Impala Platinum: up 86.80%
  • Kumba Iron Ore: up 75.67%
  • Sibanye Gold: up 65.67%
  • Tongaat Hulett: down 76.32%
  • Rebosis Property Fund: down 77.32%
  • Omnia: down 58.37%
  • Brait: down 35.80%

Year-to-date, the JSE All Share index is up 10.11% and the Top 40 up 11.41%. Sector-wise, industrials have now returned 12.13%, resources 16.28% and financials 4.14% for the 2019 year so far.This summary was obtained from Peregrine treasury services. See their full weekly update here.

Latest South African Stock Market summary (for week ending 21 June 2019)

The South African equity market gained some momentum on Wednesday in line with global equity markets, with the JSE top 40 closing 0.81% higher on Thursday to trade at 52 960.80 points.
The charge was led by:

  • AngloGold Ashanti (+6.2%)
  • Bidvest Group (+2.39%)
  • Discovery Holdings(+1.63%)
  • Aspen Pharmacare Holdings ( +1.17%)

This summary was obtained from Peregrine treasury services. See their full weekly update here.

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