Last week at a glance
South African equities edged slightly lower on Friday. The FTSE/JSE All Share Index (ALSI) closed at 101 950.32, down 0.04% from the previous session, despite having reached a weekly high of 102 639.58 on 13 August. Sector performance mirrored the broader market, with the Top 40 Index falling 0.07% to 94 498, reflecting subdued sentiment and pressure on key large-cap stocks. In currency markets, the rand strengthened against the US dollar, trading at R17.60, but weakened versus the euro and pound, closing at R20.59 and R23.86, respectively.
US markets were mixed in Friday’s trade as investors digested economic data, corporate updates, and geopolitical news. The S&P 500 fell 0.30% after briefly hitting a record, while the Nasdaq lost 0.50% on weakness in chipmakers, with Applied Materials down 14% on a weak forecast and Nvidia off 2%. The Dow gained over 100 points to fresh highs, boosted by a 14% jump in UnitedHealth after Berkshire Hathaway disclosed a major stake. Markets were cautious ahead of a Trump–Putin meeting, while planned tariffs on steel and semiconductors added to trade uncertainty. Even so, all three indices were set for weekly gains, supported by hopes of a 25 bps Fed rate cut in September. Focus now shifts to the Fed’s Jackson Hole Symposium, FOMC minutes and US housing data, alongside S&P PMI readings from major economies.
European stocks eased from multi-month highs on Friday, as weakness in heavyweight technology and financial shares outweighed support from upbeat earnings, while investors looked ahead to a key US–Russia summit. The pan-European STOXX 600 ended 0.10% lower after earlier touching its highest level in nearly five months. Technology stocks were the main drag, falling 0.60%. ASML, the world’s largest supplier of semiconductor manufacturing equipment, slipped 1% after US peer Applied Materials cut its fourth-quarter earnings forecast, blaming softer Chinese demand and tariff uncertainty. ASML had already warned in mid-July that it may fall short of its 2026 growth goal. BE Semiconductor dropped 3.30% and ASM International lost 2.80%. In London, the FTSE 100 reversed earlier gains to close 0.42% lower at 9 138.90, weighed down by a sharp fall in Standard Chartered, while mining and energy stocks provided some offset. Germany’s DAX ended marginally lower at 24 358.28 after a volatile session.
Asian markets ended mixed on Friday. Japan’s Nikkei 225 climbed 1.71%, buoyed by stronger-than-expected GDP growth of 1% and strength in export-focused stocks. On the mainland, the Shanghai Composite added 0.87% amid hopes for further policy support despite recent signs of slowing momentum. In contrast, Hong Kong’s Hang Seng Index slipped 0.95%, weighed down by weakness in technology and property shares after disappointing Chinese economic data.
Thanks to PSG for this summary.
Financial indicators by Sharedata.co.za
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