Thebe Stockbroking

We expect the JSE to open lower (-0.4%) today, on account of weaker Asian Spot equity markets in overnight trade. Asian markets were negatively impacted by negative sentiment on US equity markets, especially towards tech stocks.

Also, US market participants are uncertain about market direction in the run-up to US Fed Reserve meeting that takes place tomorrow. Current expectation is that the new US Fed chair Jerome Powell could raise US interest rate 4 times this year.

This prospect has raised risk aversion amongst investors which does not bode well for more risky emerging market assets. The JSE is closed tomorrow for Human Rights Day public holiday.

We expect the share price of Naspers to open lower after the share price of Tencent traded 0.17% lower overnight in Hong Kong. BHP is trading 1.92% lower in Australia this morning which we expect will have negative impact on the share price of the company’s JSE listing today.

The JSE closed lower on Monday, with global miners under pressure and as investors face a series of risk events this week. The All Share fell 0.02% to 58‚088.4 points and the Top 40 added 0.03% to 51,434.84 points.

The R186 benchmark was bid at 8.19% from 8.11%. At 07h45 this morning the rand was trading at R12.03/$, R14.84/€ and R16.87/£ respectively.

The Nigerian All Share Index dipped 0.21% to 41,845.92 points. At 07h45 this morning, the naira was at N360.00/$, N444.18/€ and N504.99/£ respectively.

The STOXX Europe 600 index fell 1.07% to end at 373.68 points. Germany’s DAX 30 shed 1.39% to finish at 12,217.02 points. France’s CAC 40 index lost 1.13% to close at 5,222.84 points. The U.K.’s FTSE 100 index dropped 1.69% to end at 7,042.93 points.

The Dow Jones Industrial Average fell 1.35% to 24,610.91 points. The S&P 500 index dropped 1.42% to 2,712.92 points. The technology-laden Nasdaq Composite Index lost 1.84% to 7,344.24 points

The Nikkei Stock Average had fallen 0.69%, while Australia’s S&P ASX 200 was down 0.45%. Taiwan’s Taiex fell 0.35% and South Korea’s Kospi dropped 0.14%. In Hong Kong, the Hang Seng Index fell 0.48%,

Spot gold was flat at $1,316.44 per ounce. Platinum was nearly unchanged at $952.70 per. Palladium declined 0.28% to $987.25 per ounce.

We expect the JSE to open marginally firmer (0.2%) today on account of stronger Asian spot equity markets in overnight trade.

Investors reacted positively to a statement from a White House staff member which downplayed the impact of... fb.me/9ccqo1GKg

Investors reacted positively to a statement from a White House staff member which downplayed the impact of President Trump’s proposed protectionist trade policies. Market participants are focusing on US non-farm payroll data due on Friday at 15h30 for direction.

We expect the share price of Naspers to open firmer this morning after the share price of Tencent traded 1.61%... fb.me/10EuCylnJ

We expect the share price of Naspers to open firmer this morning after the share price of Tencent traded 1.61% higher overnight. BHP is trading 0.36% higher in Australia this morning which we expect will have positive impact on the share price of the company’s JSE listing today.

The JSE closed lower on Wednesday, as banks and financials retreated on a weaker rand, amid risk-off sentiment... fb.me/9EVT4kMWg

The JSE closed lower on Wednesday, as banks and financials retreated on a weaker rand, amid risk-off sentiment following the resignation of another key adviser to US President Donald Trump.

The All Share closed 0.47% lower at 58,962.70 points and the Top 40 lost 0.48% to 52,005.09 points

The R186 benchmark was bid at 8.125% from 8.08% and the R207 at 6.72% from 6.675%. At 07h50 this morning the rand... fb.me/GxzDfpQc