Market overview
The FTSE/JSE All Share closed last week at 104 458.40, increasing by 3.21%. The basic materials sector was the biggest contributor, increasing by 5.98% during the previous week. The biggest detractor was the oil & gas sector, which lost 2.61% over the same period.
Looking at the MSCI indices, developed markets increased by 3.96% during the previous week, while emerging markets increased by 1.48% over the same period.
SA Growth accelerates in Q2
The South African economy grew by 0.8% quarter-on-quarter in Q2 2025, improving from a minimal 0.1% growth in Q1 and exceeding forecasts of 0.5%. Despite the modest scale, this marks the strongest quarterly growth since Q2 2023. Over the past year, ending in Q2 2025, the economy expanded by 0.6%.
SA Mining beats forecasts
Mining production in South Africa rose by 4.4% year on year in July 2025, accelerating from an upwardly revised 2.5% increase in May and surpassing market forecasts of a 3.2% growth. This marked the third consecutive month of increases in mining activity and the strongest growth since last September.
Thanks to PPS Investments for the weekly Market Overview.
Financial indicators by Sharedata.co.za
South African financial markets record new record highs
Equities on the JSE, precious metal prices and Rand on Friday ended stronger for the third consecutive week. Despite the higher-than-expected US inflation rate for August that was released on Thursday, sentiment on global markets remains that the Federal Reserve will decrease its Bank rate this Wednesday September 17. Read the full article on IOL Business Report here>
Big boost for interest rate cuts in South Africa
South African inflation expectations have reached a record low, but South Africans may need to wait for an interest rate cut. According to the Bureau for Economic Research’s (BER’s) latest inflation expectations survey, analysts, business people, and trade unions lowered their longer-term inflation expectations. Read the full article on Businesstech here>
Charting the global economy
A record downward revision to annual US job growth, paired with no surprises in the latest inflation data, sealed the deal for the Federal Reserve to cut interest rates next week. Read the full article highlighting the latest developments in the global economy, markets and geopolitics on Moneyweb here>
Dollar edges higher ahead of Fed rate decision; euro slips slightly
The U.S. dollar eased marginally higher Monday, with traders focusing on an upcoming Federal Reserve policy-setting meeting, which is likely to set the tone in the foreign exchange markets into the fourth quarter. Read the full Investing.com article here>
Oil edges up after attacks on Russian energy facilities
Oil prices edged higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil. Read the full Reuters article here>
Gold steady as traders wait for Fed’s rate decision
Gold prices were little changed on Monday as investors awaited a widely expected rate cut by the Federal Reserve this week, with profit-taking and an uptick in the dollar keeping gains in check. Read the full article on BusinessDay here>