Market overview
The FTSE/JSE All Share closed last week at 83 872.75, decreasing by 1.46%. The consumer staples and technology sectors were the biggest contributors gaining 0.84% and 0.51% during the week. The basic materials and oil & gas sectors were the biggest detractors losing -5.96% and -2.60% respectively over the same period.
Looking at the MSCI indices, developed markets decreased by 2.10% during the previous, while emerging markets decreased by 4.45% over the same period.
SA unemployment decreases
South Africa’s unemployment rate fell to 32.1% in Q3 of 2024, down from a two-year high of 33.5% in Q2, marking the first decrease since Q3 2023. The number of unemployed individuals dropped by 354 000, reaching 8 million, the lowest figure in almost a year.
Discouraged job seekers increased by 160 000 and the number of persons who were not economically active for reasons other than discouragement increased by 54 000. On the other hand, employment increased by 294 000 to an all-time high of 16.9 million.
US inflation sees first increase since March
The annual inflation rate in the US increased to 2.6% in October 2024, up from 2.4% in September which was the lowest rate since February 2021, and in line with market expectations. It marks the first increase in inflation in seven months, as energy costs declined, mainly due to gasoline and fuel oil while natural gas prices rose 2%, the same as in September.
Dip in Chinese production
China’s annual industrial production expanded by 5.3% in October 2024, below forecasts of 5.6% and slowing from September’s four-month high of 5.4%. The slowdown came amid a sharp moderation in electricity, heat, gas, and water production.
Thanks to PPS Investments for the weekly Market Overview.
Financial Indicators by Sharedata.co.za
Upgrade for South Africa
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