Financial News 10th January 2023

Welcome to our first weekly Financial News of 2023. We hope that you had a great festive season with family and friends and are looking forward to 2023 as much as we are. This year we will continue to provide you with current newsworthy and interesting articles from the global investment arena. If you have any queries and would like assistance from one of our qualified team, reach out and we’ll be glad to assist.

Market Overview
The FTSE/JSE All Share closed last week at 76 858.94, increasing by 5.23%. The technology and consumer discretionary sectors were the best performing, increasing by 10.88% and 8.05% respectively. The oil & gas sector was the biggest detractor, decreasing by 5.55%.

Looking at the MSCI indices, developed markets and emerging markets increased by 1.84% and 3.39% respectively in the previous week.

SA manufacturing surprises
The seasonally adjusted Absa Purchasing Managers’ Index rose to 53.1 points in December 2022 from 52.6 points in the previous month. The latest reading pointed to the second successive month of expansion in South Africa’s manufacturing activity and at the strongest pace since May 2022, despite a renewed deterioration in business activity due to persistent rolling blackouts.

Good news for petrol and diesel prices in South Africa
The weekly fuel price forecast from the Central Energy Fund (CEF) shows that petrol and diesel are on the path to another price cut next month. Read the full article here>

Put retirement planning on your 2023 to-do list
Before you join the gym or start your diet, have your overall finances analysed by a properly qualified certified financial planner. Read the full article here>

JSE set to rally as Tencent rises and China aims to end tech crackdown
The reopening of the world’s second-largest economy three years after the start of the COVID-19 pandemic is also boosting local markets. Read the full article here>

2022 in Review – Markets Tumbled as Inflation Soared
You can only describe 2022 as a year of great uncertainty and extreme market volatility. From INN8 Invest, a quick read on what went down. Read the full article here>

Need more information? Chat with us