Market Update

Global – Post Brexit euphoria? Following June’s Brexit related global market sell-off investors were lured back into the markets by the accommodative rhetoric being voiced by central banks regarding their proposals for further economic stimulus. In Dollar terms the MSCI Emerging Market Index returned 4.72% outperforming the MSCI World Index which returned 4.15%. Read the full article DOMESTIC – Steady as she goes Following on the sharp decline in equity prices post the Brexit vote, risk-on resumed as markets stabilised. In line with global emerging markets the FTSE/JSE ALSI gained 1.16%. The Top40 lost 0.08% as large cap Rand hedge stocks came under selling pressure from offshore. Read the full article

Global – Post Brexit euphoria? Following June’s Brexit related global market sell-off investors were lured back into the markets by the accommodative rhetoric being voiced by central banks regarding their proposals for further economic stimulus. In Dollar terms the MSCI Emerging Market Index returned 4.72% outperforming the MSCI World Index which returned 4.15%. Read the full article DOMESTIC – Steady as she goes Following on the sharp decline in equity prices post the Brexit vote, risk-on resumed as markets stabilised. In line with global emerging markets the FTSE/JSE ALSI gained 1.16%. The Top40 lost 0.08% as large cap Rand hedge stocks came under selling pressure from offshore. Read the full article  

Global – Slowing economic growth? Global markets experienced less volatility during the month of May against the backdrop of a weaker U.S. Dollar, higher oil prices and a significant rally in commodity prices. The MSCI World Index outperformed emerging markets returning 1.38% in Dollar terms with the MSCI Emerging Markets Index returning 0.40%. Read the full article Domestic – Stay the course Emerging markets generated positive returns in April against the global background of a weaker U.S. Dollar, a rally in commodity prices and a higher oil price. The turnaround in the JSE/ALSI was propelled largely by the stellar performance of the resources sector and returned 1.70%. Volatility eased over the month with the ALSI’s 30 day volatility indicator down to 13.07 from the previous 17.58. Not unexpectedly the RESI20 was the best performing Index returning 13.19%. The INDI25 lost 1.32% while the FINI15 was down 1.26%. Read the full article

Global – Slowing economic growth? May 2016 01/12/14 Global markets experienced less volatility during the month of April against the backdrop of a weaker U.S. Dollar, higher oil prices and a significant rally in commodity prices. The MSCI World Index outperformed emerging markets returning 1.38% in Dollar terms with the MSCI Emerging Markets Index returning 0.40%. Read the full article Domestic – Stay the course Emerging markets generated positive returns in April against the global background of a weaker U.S. Dollar, a rally in commodity prices and a higher oil price. The turnaround in the JSE/ALSI was propelled largely by the stellar performance of the resources sector and returned 1.70%. Volatility eased over the month with the ALSI’s 30 day volatility indicator down to 13.07 from the previous 17.58. Not unexpectedly the RESI20 was the best performing Index returning 13.19%. The INDI25 lost 1.32% while the FINI15 was down 1.26%. Read the full article  

Global – Slowing economic growth? Global markets experienced less volatility during the month of April against the backdrop of a weaker U.S. Dollar, higher oil prices and a significant rally in commodity prices. The MSCI World Index outperformed emerging markets returning 1.38% in Dollar terms with the MSCI Emerging Markets Index returning 0.40%. Read the full article Domestic – Stay the course Emerging markets generated positive returns in April against the global background of a weaker U.S. Dollar, a rally in commodity prices and a higher oil price. The turnaround in the JSE/ALSI was propelled largely by the stellar performance of the resources sector and returned 1.70%. Volatility eased over the month with the ALSI’s 30 day volatility indicator down to 13.07 from the previous 17.58. Not unexpectedly the RESI20 was the best performing Index returning 13.19%. The INDI25 lost 1.32% while the FINI15 was down 1.26%. Read the full article

Global – Slowing economic growth? April 2016 01/12/14 Global markets experienced less volatility during the month of April against the backdrop of a weaker U.S. Dollar, higher oil prices and a significant rally in commodity prices. The MSCI World Index outperformed emerging markets returning 1.38% in Dollar terms with the MSCI Emerging Markets Index returning 0.40%. Read the full article Domestic – Stay the course Emerging markets generated positive returns in April against the global background of a weaker U.S. Dollar, a rally in commodity prices and a higher oil price. The turnaround in the JSE/ALSI was propelled largely by the stellar performance of the resources sector and returned 1.70%. Volatility eased over the month with the ALSI’s 30 day volatility indicator down to 13.07 from the previous 17.58. Not unexpectedly the RESI20 was the best performing Index returning 13.19%. The INDI25 lost 1.32% while the FINI15 was down 1.26%. Read the full article  

Global – Mario Draghi more QE? Global equities came under considerable pressure in February on the back of continued weakness in the oil price and uncertainty regarding the way forward in terms of U.S. interest rate normalization. In Dollar terms the MSCI World Index delivered a negative return of -0.96% while the MSCI Emerging Markets Index eased -0.15%. Having experienced a difficult month in January, U.S. markets displayed some resilience in February but struggled to make meaningful progress as concerns over the domestic economy were compounded by a further slowing of the global economy Read the full article Domestic – Pravin’s dilemma The release of the 2016/17 budget, concerns over U.S. and global economic growth, together with the possibility of a downgrade of our sovereign debt by the rating agencies all contributed to a month of relentless volatility on the... Read More

Global – Mario Draghi more QE? Global equities came under considerable pressure in February on the back of continued weakness in the oil price and uncertainty regarding the way forward in terms of U.S. interest rate normalization. In Dollar terms the MSCI World Index delivered a negative return of -0.96% while the MSCI Emerging Markets Index eased -0.15%. Having experienced a difficult month in January, U.S. markets displayed some resilience in February but struggled to make meaningful progress as concerns over the domestic economy were compounded by a further slowing of the global economy Read the full article Domestic – Pravin’s dilemma The release of the 2016/17 budget, concerns over U.S. and global economic growth, together with the possibility of a downgrade of our sovereign debt by the rating agencies all contributed to a month of relentless volatility on the... Read More

Global – Mario Draghi more QE? Global equities came under considerable pressure in February on the back of continued weakness in the oil price and uncertainty regarding the way forward in terms of U.S. interest rate normalization. In Dollar terms the MSCI World Index delivered a negative return of -0.96% while the MSCI Emerging Markets Index eased -0.15%. Having experienced a difficult month in January, U.S. markets displayed some resilience in February but struggled to make meaningful progress as concerns over the domestic economy were compounded by a further slowing of the global economy Read the full article Domestic – Pravin’s dilemma The release of the 2016/17 budget, concerns over U.S. and global economic growth, together with the possibility of a downgrade of our sovereign debt by the rating agencies all contributed to a month of relentless volatility on the... Read More

Global – Year of the Monkey? 2016 saw a turbulent start to the year on the back of extreme volatility in Chinese markets together with renewed downward pressure on the oil price as a result of oversupply. These two factors saw global stockmarkets posting significant negative returns with the MSCI World Index down -6.05% and the MSCI Emerging Markets Index down -6.22% in dollar terms. Read the full article Domestic – Commodities crunch Global emerging markets did not escape the holocaust with a risk-off sentiment prevailing throughout the month. The safe haven status of the gold mining sector being the one exception returning 34.90% for the month. The JSE/ALSI closed down- 3.06% whilst the Top40 declined -3.75%. Not unexpectedly the RES120 lost -4.51% as commodity prices continued their decline. Platinum and Precious Metals recovered some of last month’s losses gaining... Read More