Market overview
The JSE All Share closed the week at 109 569.90 decreasing by 0.68%. The biggest contributing sector was the oil and gas sector, adding 3.97% while the basic materials sector decreased by 3.15% during the same period.
Looking globally, developed markets decreased by 1.23% (USD) during the week. Emerging markets decreased by 4.10 % (USD) during the same period.
Local events
• South Africa’s mining production fell 5.4% year-on-year in May, the steepest decline since February 2025, driven by lower output from iron ore, coal and platinum group metals.
• South Africa aims to attract R750 billion in Special Economic Zone investment by April to support industrial development and economic growth.
• Toyota’s R10.4 billion investment in its Durban facility reflects confidence in South Africa’s manufacturing sector and supports future growth and exports.
• The FSCA launched an investigation into the PIC, with governance concerns prompting senior leadership changes at Africa’s largest asset manager.
Global events
• US inflation eased to 3.5% in June, its first decline in five months, boosting expectations of a less restrictive interest rate environment.
• China’s economy grew 4.3% year-on-year in Q2, the slowest pace since Q4 2022, highlighting softer demand and increasing expectations of policy support.
• China’s trade surplus widened to $125.6 billion in June, supported by strong exports and imports, signalling resilient global demand.
• Renewed US strikes on Iran have raised concerns over oil supply disruptions, with potential implications for inflation, energy prices and global growth.
Thanks to PPS Investments for the weekly Market Overview.
Financial indicators by Sharedata.co.za
World Bank supports SA infrastructure drive through $1.5bn loan
The International Bank for Reconstruction and Development (IBRD), the lending arm of the World Bank Group, has approved a new $1.5bn loan to support South Africa’s infrastructure modernisation drive in a boost that will enable nearly 600,000 jobs. Read the full article in BusinessDay here>
Global financial markets remain on the back foot: the repo rate may increase
It seems it was more of the same on global financial markets last week. The war between the US and Iran in the Strait of Hormuz continues, and the chances of a renewed ceasefire are slim, driving Brent crude prices up by 12% to more than $85 per barrel on Friday. See the full IOL Business Report article here>
South Africa’s economy is holding up better than expected
The renewed conflict between Israel and Iran has once again placed geopolitical risk firmly back on the global agenda and through it all, the resilience shown by the South African economy has been impressive in relation to most economies, with the rand holding up far better than it has during past global shocks. Read the full Moneyweb article here>
Trouble brewing for people under 65 in South Africa
Working-age South Africans say they cannot afford to save for retirement because their disposable income is allocated to other expenses. This leaves them exposed to greater risks later in life. Read about the results from the recent 2026 FNB Retirement Insights Survey in Businesstech here>
Wall Street’s Patience Runs Thin
This week will test whether Wall Street’s artificial-intelligence boom still has enough substance to support its enormous price tag. ead the full article on MarketScreener.com here>
Oil price soars above $90 as US and Iran escalate war
Brent crude climbed above $90 a barrel on Monday, its highest in more than a month, as intensifying US-Iran hostilities choked off oil shipments through the Strait of Hormuz. Red the full article on MSN here>