Market Overview
The FTSE/JSE All Share closed last week at 89 572.56, increasing by 0.22%. The telecommunication and basic materials sectors were the biggest contributors gaining 5.18% and 1.35% during the week. The health care and oil&gas sectors were the biggest detractors declining by 2.84% and 1.51% over the same period.
Looking at the MSCI indices, developed markets decreased by 0.87% during the previous week, while emerging markets decreased by 1.41% over the same period.
SA Consumer confidence comes in lower
The FNB/BER Consumer Confidence Index for South Africa plunged to -20 in the first quarter of 2025, the lowest point since Q2 2023, down from -6 in the previous period. This marked the second consecutive quarter of declining sentiment, as consumers were shaken by the recent budget proposal to increase the VAT tax rate. The worsening diplomatic relations between South Africa and the US, and the negative consequences of the trade war started by President Trump also weighed on sentiment.
US Q4 growth impresses
The US economy expanded an annualized 2.4% in Q4 2024, slightly higher than 2.3% in the previous estimates, primarily reflecting a downward revision to imports. The future looks less rosy as Goldman’s US GDP growth projection for 2025 now sits at 1.7%, down from 2.4% at the start of the year.
Thanks to PPS Investments for the weekly Market Overview.
Financial Indicators by Sharedata.co.za
Gold hits record highs while JSE thrives; Rand falters amid Trump’s tariffs
Gold recorded a new record level of $3 085 in intra-day trade on Friday. Analysts like Goldman see the price for bullion at $3 450 over the next 12 months. The ongoing Trump-led tariff war with the rest of the world is expected to drive up global inflation and weigh on risky assets like equities, reinforcing gold’s role as a safe haven for investors. Read the full article by Chris Harmse on IOL Business report here>
Charting the global economy: US inflation picks up before tariffs
Markets and world leaders are all bracing for next week, when President Donald Trump has planned a rollout of tariffs dubbed ‘Liberation Day’ on April 2. Read the full article on Moneyweb.co.za here>
Stocks fall sharply; bonds, gold buoyed as tariffs stoke recession fears
World share markets fell sharply on Monday and gold surged to another new record after U.S. President Donald Trump said tariffs would essentially cover all countries, stoking worries a global trade war could lead to a recession. Read the full Reuters article here>
Dollar on track for quarterly loss on tariffs concerns; safe-haven yen rises
The U.S. dollar steadied Monday, but was on course for quarterly losses given persistent concerns that increased trade tariffs under U.S. President Donald Trump will ignite inflation and crimp economic growth. Follow the Investing.com report here>
Sectors and money that moves the world
Today, the world’s three largest sectors by market cap are information technology, financials, and industrials, together making up 50% of the global stock market.
* The information technology sector stands as the largest globally, with a market capitalization of $25.7 trillion in 2025.
* On the other end of the spectrum, the real estate sector is the smallest, at $3.3 trillion.
* Overall, the global stock market comprises nearly 48,000 firms with a combined market cap of $123.6 trillion.
