Market overview
The FTSE/JSE All Share closed last week at 97 182.69, increasing by 1.43%. The basic materials and oil & gas sectors were the biggest contributors increasing by 6.27% and 5.85% respectively during the previous week. The biggest detractor was the technology sector, which lost 2.79% over the same period.
Looking at the MSCI indices, developed markets increased by 0.41% during the previous week, while emerging markets increased by 1.33% over the same period
SA Manufacturing improves
South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) increased to 48.5 in June 2025 from 43.1 in May, marking its second-highest reading of the year. Although the index remained below the 50-point threshold for the eighth consecutive month, signalling ongoing contraction, it pointed to improving momentum in the manufacturing sector.
US Job market remains strong
The US economy added 147 000 jobs in June 2025, following an upwardly revised 144 000 in May and well above forecasts of 110 000. The reading was also in line with the average monthly gain of 146 000 over the previous 12 months. The June report continues to underscore a fundamentally resilient labour market, however a slowdown could happen soon as uncertainty surrounding tariffs, trade and immigration policies may lead many employers to adopt a more cautious hiring stance.
Euro inflation in line with expectations
Annual Eurozone inflation increased slightly to 2.0% in June, up from May’s eight-month low of 1.9% and in line with market expectations. The figure aligns with the European Central Bank’s official target. Among major economies, inflation in Germany unexpectedly declined, while France and Spain saw modest increases and Italy’s rate held steady.
Thanks to PPS Investments for the weekly Market Overview.
Financial indicators by Sharedata.co.za
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