Market overview
The FTSE/JSE All Share closed last week at 112 479.90, increasing by 1.44%. The financials sector was the biggest contributor increasing by 3.59% during the previous week. The technology sector lost the most ground, decreasing by 0.72% over the same period.
Looking at the MSCI indices, developed markets increased by 0.49% during the previous week, while emerging markets increased by 1.42%.
Big drop in SA Manufacturing
South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell for the second month to 42 in November from 49.2 in the previous month. The latest reading indicated a second straight month of contraction in the country’s manufacturing sector, worsening from the previous month, and marking the sharpest decline since April 2020. Absa stated the reading highlights the sectors fragility, with weak domestic demand, subdued exports, and sluggish output, despite easing cost pressures and early improvements in logistics.
SA GDP growth
South Africa’s economy expanded by 2.1% year-on-year in Q3, the fastest expansion since Q3 2022, accelerating from the previous quarter’s upwardly revised 0.9%. GDP Annual Growth Rate averaged 2.31% from 1994 to 2025, reaching an all-time high of 19.20% in the second quarter of 2021 and a record low of -16.40% in the second quarter of 2020.
Thanks to PPS Investments for the weekly Market Overview.
Financial Indicators by Sharedata.co.za
Moody’s flags modest growth outlook and persistent fiscal pressures in SA
Moody’s Ratings has reaffirmed its existing view on South Africa’s creditworthiness following a periodic review completed on 27 November 2025, cautioning that while economic conditions have improved, deep structural constraints continue to weigh on the country’s long-term prospects. Read the full article on IOL Business Report here>
Reserve Bank holding back over R1,300 per month relief for homeowners in South Africa
Renowned economist Roelof Botha says that the prime lending rate should be 1.25% lower than it currently is, which would mean an extra savings of R1,388 per month from the current rate. Read the full opinion piece by Botha in Businesstech.co.za here>
Gold takes heart from subdued dollar
Gold nudged higher on Monday, supported by a softer dollar as traders grew more confident the US Federal Reserve will deliver an interest-rate cut at its policy meeting this week. See the full BusinessDay article here>
U.S. Treasury yields hold steady as investors await expected Fed rate cut
U.S. Treasury yields held steady Monday as bets continued to rise on expectations of an interest rate cut at the Federal Reserve’s meeting on Wednesday. See what’s happening in the US economy on CNBC here>
Stocks hold ground as markets eye Fed rate cut
Stocks held their ground on Monday as markets bet that the Federal Reserve would deliver a rate cut this week, though investors speculated that the meeting could be one of the most fractious in recent memory. Read the full Reuters article here>
China’s exports grow 5.9% in November, while US shipments drop 29%
While exports from China to the US have fallen for most of the year, shipments have surged to other destinations, including Southeast Asia, Latin America, Africa, and the European Union. See the full article on Euronews.com here>
Oil close to two-week highs on expectation of US rate cut
Oil prices hovered at two-week highs on Monday as investors expect a likely US Federal Reserve interest rate cut this week to lift economic growth and energy demand, while monitoring geopolitical risk that threatens Russian and Venezuelan supply. See the full BusinessDay article here>