Financial News 15th November 2022

Welcome to the first of our weekly posts containing articles of interest and happenings in the world of finance and investments. Each week we’ll be showing the closing market indicators of the previous week and sharing articles from a wide variety of sources including insurance companies, investment specialists and the financial media. South Africa is a minor party to the wider global economy however what happens in the USA, China and Europe has a direct impact on the local economy.

Market Overview and Indicators (week ending 11th November)
The FTSE/JSE All Share closed last week at 72 982.80, increasing by 5.31%. Stocks surged last week after lower-than-expected inflation data in the US. The increase sent bond yields and the U.S. dollar lower, in the hope that the US Fed can be less aggressive in their fight against inflation.
On the JSE, the technology and basic material sectors increased by 9.66% and 8.52% respectively. The oil & gas sector was the biggest detractor decreasing by -9.79%. Looking at the MSCI indices, developed markets increased by 6.70% during the previous week while emerging markets increased by 5.74% over the same period.

Indicators 11/11/22

JSE looks set to lift as China’s Covid-19 stance boosts markets, Tencent
The JSE is facing mostly green screens from Asia on Monday where the easing of Covid-19 restrictions in China lifted markets and Tencent, which influences the JSE via Naspers and Prosus. Read the full article here>

Asian stocks pulled higher by China; dollar rises: markets wrap
Asian equities advanced as China’s policy shifts on Covid and the property sector pushed a gauge of the region’s shares toward its highest level in two months. Read the full article here>

U.S. consumer inflation decreases to 7.7%
U.S. consumer inflation decreased to 7.7% y/y in October, while core inflation has fallen to 6.3%. The data may encourage the Fed to slow the pace of rate hikes. Read the full article here>

We trust that you’ll find these articles informative and enlightening and if they raise any issues for you, please don’t hesitate to contact us and we’ll be glad to assist.

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