Market overview
The JSE All Share closed the week at 112 610.80 decreasing by 0.06%. The biggest contributing sector was the healthcare sector, adding 5.46% while the basic materials sector decreased by 4.99% during the same period.
Looking globally, developed markets increased by 0.84% (USD) during the week. Emerging markets increased by 4.15% (USD) during the same period.
Local events
• South Africa’s annual inflation rose to 4.5% in May, marking a third consecutive increase, driven by higher transport and electricity costs linked to rising fuel prices and tariff hikes.
• Western Cape floods caused over R9 billion in damage, highlighting risks to economic activity and pressure on public finances.
• South Africa’s retail sales rose 1.3% year-on-year in April, reflecting modest consumer spending growth supported by strong discretionary retail.
• South Africa’s LNG import agreement, including a 3 000 MW gas plant, aims to improve energy reliability and reduce coal reliance, supporting long term growth.
Global events
• The US Federal Reserve held interest rates at 3.75%, signalling a cautious stance as inflation remains elevated and expectations of further tightening persist.
• US retail sales rose 0.9% month-on-month in May, above expectations, signalling resilient consumer demand and supporting the outlook for sustained economic growth.
• A US–Iran peace agreement led to a sharp decline in oil prices, with Brent crude falling to around $83 per barrel as supply concerns eased following the reopening of key oil routes.
• UK inflation remained elevated at 2.8% in May, highlighting persistent global price pressures and reinforcing expectations of tighter monetary policy.
Financial Indicators by Sharedata.co.za
SARS tax season 2026: Here’s what’s changed
The South African Revenue Service (SARS) has rolled out a range of enhancements for the 2026 Filing Season aimed at making the tax submission process faster, easier and more convenient for taxpayers. Se the highlights in the MSN article here>
Inflation expectations are rising, Sarb’s Kganyago warns
South Africa’s central bank governor said policymakers are seeing early signs of second-round inflation effects as underlying price pressures build, emphasising the need to act. Read the full Moneyweb article here>
South Africans should prepare for months of petrol price pain, says Dawie Roodt
South Africans should not expect meaningful relief at the pumps in the coming months, despite the recent easing in global oil prices following signs of de-escalation in the Middle East conflict. Read the full Businesstech article here>
South Africa’s rand under siege
As global heavyweights like China and Japan are managing their exchange rates more actively, free-floating emerging-market currencies like South Africa’s rand are bearing the brunt of a stronger dollar and risk-off sentiment. Read this inciteful report on Daily Investor here>
Asian shares rise amid news of progress in US-Iran peace talks
Asian share markets swung higher on Monday as Iranian negotiators said progress had been made in peace talks with the US, helping calm fears the process was breaking down. Read the full BusinessDay article here>
Oil prices soften further, while most stocks rise on ‘positive’ US-Iran talks
Oil prices fell on Monday on optimism over US-Iran peace talks, with mediators flagging a “roadmap” to a final agreement, while most equities rose thanks to another healthy start for tech firms. Read the full IOL Business article here>