With the holiday season just around the corner, this will be the last Financial News update for 2022. The team at Hansmeyer and Associates would like to take this opportunity to wish all of our clients and readers a fantastic and safe festive season and we look forward to bringing you more informative and enlightening content in 2023.
Market Overview
The FTSE/JSE All Share closed last week at 74 548.14, increasing by 0.36%. The technology and consumer staples sectors were the best performing increasing by 4.91% and 0.44% respectively. The basic materials and oil & gas sectors were the biggest detractors, decreasing by 0.70% and 0.69% respectively.
Looking at the MSCI indices, developed markets decreased by 2.27% during the previous week while emerging markets decreased by 0.46% over the same period.
South African rand slips at start of busy data week
The South African rand slipped in early deals on Monday, as traders readied for a raft of local data and the US dollar firmed ahead of a flurry of rate decisions, including from the US Federal Reserve. Read the full article here>
Dollar up, stocks down as traders eye rate paths: markets wrap
The dollar advanced and stocks extended declines in Asia at the start of a pivotal week for markets, with interest rate decisions due from the Federal Reserve, the European Central Bank and a host of their peers. Read the full article here>
Oil rises as pipeline to US stays closed and Putin threatens production cuts
Oil prices rose more than 1% on Monday as a key pipeline supplying the US stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Read the full article here>
IMF, World Bank sound alarm about global economic outlook
MD of the International Monetary Fund Kristalina Georgieva says indicators show further downgrades to global growth are likely. Read the full article here>