Local & International Markets

Wealth

Local & International Markets

Last week, markets were again driven by international news out of the US. 

Last week, markets were again driven by international news out of the US. Investors are watching closely for any further action from the US and its allies France and the United Kingdom against the Syrian government in retaliation for an alleged chemical weapons attack on Syrian rebel-held territory. The presence of Russian forces on the ground in Syria complicates matters, given growing tensions between the West and Russia over various issues, including the poisoning of a former Russian spy and his daughter in England. Sanctions recently imposed by the US on several Russian oligarchs have hurt Russia’s financial markets.

Some good news on the “trade war” between China and the US was some conciliatory comments from Chinese President Xi Jinping on steps his country will take to open markets to foreign competition. Markets were buoyed by the tone of his remarks, viewing them as aimed at improving relations with the United States.

South African markets closed in the green for the week, tracking gains in global equity markets and boosted by an increase in mining sector stocks. Miners rallied 4.24% in the week, followed by financial stocks with a 1.12% week. The JSE all-share index advanced 1.38% to close at 56,563.17.

European markets closed firmer: the DAX gained 1.64% followed by the FTSE 100 with a gain of 1.13%, while the CAC 40 in France closed 1.08% higher.

In the US, markets bounced back with the S&P 500 closing 1.99% stronger.

The rand lost some ground against the larger currencies, closing 0.43% weaker against the USD at R12.08, and 1.46% weaker against the pound to trade at R17.20.

The price of Brent crude oil shot up and a barrel now costs $72.53, as much as 8.21% more than the week before.

This week, people across the world will again be watching President Donald Trump’s Twitter feed, which has become an influential market moving force internationally.

Regards

Johan Steyn

Regards,

SECURITAS – Wealth Management


















Market data provided by I-Net | News article provided by Securitas with 4D Wealth

Securitas Financial Group is a Registered Financial Services Provider (FSP) FSB license number 6536

Johan Steyn, RFP®, Cell. 082 680 9510, johan@securitas.co.za;  

Albert van der Linde, B.Com (US), B.Com (Hons)(UP), Cell. 076 087 3084, albert@securitas.co.za;

Hannes Bresler, CFP®, B.Com (Hons)(UJ), Pr.Tech Eng, Cell. 082 823 7973, hannes@securitas.co.za;

Henro Grové, B.Com (UP), B.Com (Hons)(UP), Cell. 083 945 3578, henro@securitas.co.za;