Market overview
The FTSE/JSE All Share closed last week at 86 938.44, increasing by 2.92%. The technology and telecommunication sectors were the biggest contributors gaining 7.80% and 5.03% during the week. The oil & gas and basic materials sectors were the biggest detractors losing -1.71% and -0.65% respectively over the same period.
Looking at the MSCI indices, developed markets increased by 1.20% during the previous week, while emerging markets increased by 2.45% over the same period.
SA GDP growth disappoints
South Africa’s GDP rose by 0.3% over a year in Q3 2024, the same pace as in Q2 and well below market expectations of a 1.2% growth. GDP Annual Growth Rate in South Africa averaged 2.35% from 1994 until 2024, reaching an all-time high of 19.40% in the second quarter of 2021 and a record low of -16.20% in the second quarter of 2020.
China struggles with inflation
China’s annual inflation rate unexpectedly edged lower to 0.2% in November 2024 from 0.3% in the previous month, missing market forecasts of 0.5% and marking the lowest figure since June. The slowdown highlighted mounting deflation risks in the country despite recent stimulus measures from the government and a supportive monetary policy stance by the central bank.
Thanks to PPS Investments for the Market Overview
Market Indicators by Sharedata.co.za
South African rand firms at start of data-filled week
South Africa’s rand firmed early on Monday, at the start of a week packed with economic data releases that will shed light on the health of Africa’s most industrialised economy heading into the new year. Read the full MarketScreener report here>
How much it will cost to save South Africa’s economy
South Africa’s economic turnaround will cost at least an estimated R2.3 trillion over the next ten years, as the government needs to fix the country’s deep-rooted structural problems to achieve greater economic growth. Read the full Daily Investor article here>
Oil gains as Assad’s fall increases Middle East uncertainty
Oil prices climbed on Monday after the fall of Syrian President Bashar al-Assad’s regime introduced greater uncertainty to the Middle East, though the gains were capped by a waning demand outlook for the coming year. Read the BusinessDay article here>
US CPI, ECB decision, Chinese stimulus – what’s moving markets
Wall Street is seen trading in a calm manner Monday ahead of the release of the widely-anticipated monthly US consumer inflation number. Chinese inflation data points to slowing consumer spending, while the European Central Bank holds its latest policy-setting meeting this week. Read the full report from Investing.com here>
Gold firmer as traders await US inflation data for Fed clues
Gold prices gained on Monday as investors awaited US inflation data due this week for clues on the Federal Reserve’s next monetary policy moves. Read the full BusinessDay article here>