Financial News 5th December 2022

Market Overview
The FTSE/JSE All Share closed last week at 74 322.91, increasing by 1.65%. The technology and consumer discretionary sectors were the best performing increasing by 8.84% and 7.15% respectively. The financials and telecommunication sectors were the biggest detractors, decreasing by 5.95% and 1.60% respectively.
Looking at the MSCI indices, developed markets increased by 1.12% during the previous week while emerging markets increased by 3.51% over the same period.

Asian equities, commodities rise on China outlook: markets wrap
Asian equities and commodities rose as traders bet on further reopening of the Chinese economy from COVID restrictions. The currencies of countries that export materials and energy climbed. Read the full article here>

South African rand, bonds gain as President Ramaphosa’s future is discussed
South Africa’s rand strengthened in early trade on Monday, ahead of a meeting by the executive committee of the country’s governing party to decide the fate of President Cyril Ramaphosa. Read the full article here>

US Dollar erases more than half of this year gains on Fed rate bets
The US dollar has erased more than half of this year’s gains amid growing expectations the Federal Reserve will temper its aggressive rate hikes, and as optimism grows over China’s reopening plans. Read the full article here>

Gold reaches five month peak as dollar slides on hopes of China reopening
Gold prices rose to a five-month high on Monday, as the US dollar weakened slightly after more Chinese cities relaxed COVID-19 restrictions at the weekend. Read the full article here>

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