Market overview
The FTSE/JSE All Share closed last week at 92 618.56, increasing by 0.88%. The consumer discretionary and technology sectors were the biggest contributors increasing by 5.18% and 4.62% respectively during the previous week. The biggest detractors were the basic materials and health care sectors, which lost 5.8% and 0.82% over the same period.
Looking at the MSCI indices, developed markets increased by 4.16% during the previous week, while emerging markets increased by 3.09% over the same period.
Concerning SA unemployment data
South Africa’s unemployment rate increased to 32.9% in Q1 of 2025, up from 31.9% in the previous three months. This rise was due to 237,000 more people becoming unemployed, bringing the total to 8.2 million. The youth unemployment rate, measuring jobseekers between 15 to 24 year olds, climbed to 62.4%, the highest level since Q1 2022, from 59.6% in the previous quarter.
SA Mining output continues to struggle
Mining production in South Africa shrank by 2.8% over a year ago in March 2025, following a 9.7% plunge in the previous month. The latest reading pointed to the fifth consecutive month of downturn in the country’s sector, although much softer than in February. Mining production dropped by 4.5% in Q1 compared with the fourth quarter of 2024.
Thanks to PPS Investments for the weekly Market overview.
Financial Indicators by Sharedata.co.za
New twist shakes up interest rate expectations in South Africa
The South African Reserve Bank (SARB) will likely hold interest rates steady when the Monetary Policy Committee (MPC) meets next week, with talk of adjusting the country’s inflation target adding a new twist to the outlook. Read the full article on Businesstech here>
South African petrol price: Here’s what to expect in June 2025
The Central Energy Fund’s latest report suggests South African motorists could still see a fuel price cut in June 2025. However, the latest data shows a clear drop in momentum, especially for petrol. Reade the article on MSN here>
S&P affirms rating on SA despite growth and fiscal challenges
Ratings agency S&P Global has given SA its sign of approval even before this week’s budget, affirming SA’s credit rating and keeping it on positive outlook — but warning that it could still downgrade its rating if there was no progress on economic and governance reforms. See the full article on BusinessDay here>
Wall Street banks say emerging markets’ wasted years are over
Morgan Stanley Investment Management, AQR Capital Management, Bank of America Corp and Franklin Templeton are among those betting the tables may finally be turning in favor of developing-market equities. Read the full Moneyweb article here>
Gold firms amid Donald Trump’s tariff threats
Gold prices climbed on Monday as a softer dollar and renewed trade tension, following US treasury secretary Scott Bessent’s reaffirmation of President Donald Trump’s tariff threats, fuelled safe-haven demand. Read the BusinessDay article here>
U.S. stock futures slump after Moody’s downgrade; Nvidia in spotlight
U.S. stock index futures fell sharply Monday after Moody’s downgraded its investment grade rating on the U.S., ramping up concerns over slowing economic growth and heightened debt levels. Read the full article on Investing.com here>
Asia-Pacific markets fall as investors assess Moody’s U.S. downgrade, China data
Asia-Pacific markets fell Monday as investors assess the latest slate of economic data from China and Moody’s downgrade of the U.S. credit rating. China’s retail sales growth slowed in April, signaling that consumption remains a worry for the world’s second-largest economy. Read the CNBC article here>