Market summary
The JSE All Share closed the week at 113 002.41 decreasing by 1.65%. The biggest contributing sector was the industrial sector, adding 3.03% while the oil and gas sector decreased by 10.86% during the same period.
Looking globally, developed markets decreased by 0.45% (USD) during the week. Emerging markets decreased by 0.56% (USD) during the same period.
Local events
• South Africa’s retail sales surged 3.4% year-on-year in July, supported by strong growth in general dealers, clothing retailers, and specialised food stores.
• South Africa’s consumer confidence improved to -13 in Q3, supported by easing food inflation and improved sentiment among lower-income households.
• South Africa faces a potential gas shortfall from 2030, putting R700 billion in economic activity and 75,000 jobs at risk if alternative supply sources are not secured.
Global events
• The US Federal Reserve raised interest rates by 25 basis points to 4% and signalled the possibility of further rate hikes as inflation remains above its 2% target.
• China’s industrial production grew 5.2% year-on-year in August, driven by stronger manufacturing activity and growth across key industries.
• US retail sales increased 1.2% in August, signalling resilient consumer spending and continued strength in the world’s largest economy.
Thanks to PPS Investments for the weekly Market Summary.
Financial indicators by Sharedata.co.za
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