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IOL News
2 days ago
- Business
- IOL News
All Share index remains bullish despite Trump's tariffs
The All Share index on the JSE recorded once again a record-breaking week. Image: Nicola Mawson / Independent Newspapers The All Share index on the JSE recorded once again a record-breaking week. The index reached 101 034 points in intra-trade on Friday, gaining 0.2% on the day. The index improved over the week by 3.2%, advancing by 19.7% for the year to date. Equities are boosted by precious metals as the gold, platinum and palladium prices surged. This despite the introduction of tariffs of 30% by the US Trump administration on a wide range of products imported from South Africa, which kicked in last Thursday. The current debate like the 'inability' of the South African government trade negotiators is dominating the media. Despite this noise, South African financial markets are experiencing positive movements. Although with volatility, the Rand exchange rate ended last week flat at R17.70 to the dollar. The Rand improved by 5.6%, or 100 cents, from R18.70 since January 2, 2025. Since the beginning of the year the price for Gold in terms of dollars has increased by 30%, the Platinum price by 50% and the Palladium price by 29.8%. The Brent oil price ended the week flat on $66 per barrel. Global stock markets appear emotionless to Trump's 'reciprocal' tariffs after a week of serious negotiations between the Trump administration and most of the other big economies around the world, like the EU, Great, Britain, China, and Japan. The average effect tariff rate on US imports is now the highest since the 1930s. US stocks closed mixed to lower on Thursday when the tariffs were introduced, with the Dow Jones losing 0.51% and the S&P 500 fell 0.08%. These indices recovered sharply on Friday. The Dow ended the week 1.4% higher, the S&P50 gained 2.43% and the Nasdaq increased by 1.3%. Of the 87% of companies in the S&P 500 that already had reported earnings for the second quarter, 2025, most of them or 81% of those companies reported earnings higher than Wall Street's expectations. Prospects for this coming week Domestically the release Wednesday by Statistics South Africa of South Africa's unemployment rate for quarter two 2025 will be of importance for financial markets. The number of jobless people was 32.9% in quarter one and it is expected that the number, as always seasonally, will decrease to 32.6% in quarter two. South Africa's mining production data for June will also be announced on Wednesday. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Globally, investors will await the release of the US inflation rate for July this coming Wednesday. It is expected that the annual CPI had increased by 2.8%. This is higher than the annual inflation rate of 2.7% recorded for June 2025. This will affect market sentiment negatively as investors will be uncertain about the next move by the Federal Reserve that will be held only on September 17. The current conflict between President Donald Trump and the Federal Reserve chairperson Jeremy Powell will continue and put markets in uncertainty. The US will also publish its annual production price inflation rate for June on Thursday and its retail sales for July on Friday. It is expected that the monthly growth in retail sales decreased to 0.4% from 0.6% in June. This figure in months to come will be more of importance as the effect of the increased US tariffs will be felt the most by consumers from August. Elsewhere, the UK will announce its unemployment rate for June on Tuesday and its preliminary GDP economic growth rate for quarter two 2025 on Thursday. Chris Harmse is the consulting economist of Sequoia Capital Management and a senior lecturer at Stadio Higher Education. Image: Supplied
IOL News
07-07-2025
- Business
- IOL News
JSE reaches new heights as rand strengthens
The All Share index on the JSE on Friday recorded a week high level for a third consecutive week. Image: Nicola Mawson / Independent Newspapers The All Share index on the JSE on Friday recorded a week high level for a third consecutive week. The index improved over the week by 1.38% to a new record level of 97 128 points. For the first six months of the year the index gained 15.2%, increasing by 18.6% in the last quarter. This despite the geo-political woes from the rampant Trump tariff spree, the Trump-Ramaphosa meeting in the US, the Israel-Iran conflict up to tension in the Government of National Unity. All and all it seems that South Africa is isolated and far away from the Middle East fiasco, with the precious-metals bonanza of gold, platinum and palladium leading the appetite for investments in shares and bonds. The Resources 10 index led the charge, gaining 2.6% last week, 24.5% over the last quarter and a massive 47.7% since the beginning of the year. The Rand exchange rate also continues to recover week by week. In intra-trade last week, the currency improved to R17.50/$, R23.87/£ and R20.72/€. This is a 22 cents improvement against the Dollar, 44c appreciation against the Pound and 21c strengthening against the Euro. Against the US dollar the Rand has improved by R1.09/ $ since the beginning of the year. The strong improvement in the Rand/$ last week and the return of the Brant oil price to levels much lower than $70 (R1 232) per barrel are likely to reverse the sudden strong increase in fuel prices at the beginning of August. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ After the first week of the new month calculating the over-recovering for petrol is around 20c per liter although the price for diesel remains under pressure with an under-recovering of 60c per liter. The US share market recovers strongly but lower interest rates are still in balance. With in two weeks after President Donald Trump send in the US bombers to eliminate Iran's nuclear facilities, equity prices on Wall Street recovered quickly and sharply. During this time, the S&P 500 index gained 5.0% and with the 1.7% increase last week reached a new all-time high. Although US bond yields have been moving lower over the past few weeks, there was a strong increase in new jobs of 147 000 in the non-farm job market in June. With the unemployment rate moving lower to 4.1% from 4.2% in May 2025, and expectations that the US core inflation rate will remain on 2.80%, the Federal Reserve may abstain yet again in lowering its bank rate during its July meeting. On Friday just after the jobs report, the odds of a cut at the Fed's July 28-29 meeting fell to 5% from an earlier 25% possibility. Prospects for this coming week Investors will await the release of the US Federal Open Market Committee meeting's minutes on Wednesday. The minutes will shed light and prospects for lowering the Federal Reserve's bank rate in months to come. Domestically Statistics South Africa will publish the May manufacturing production data. It is expected that the annual manufacturing production decreased by 3.0% after a disappointing annual growth of -6.0% in April. The manufacturing sector suffered during the first quarter of 2025 with a negative growth rate of -2.0%, contributing -0.2 of a percentage point to the very week GDP growth of only 0.1%.
Business Post
22-05-2025
- Business
- Business Post
German 30 year bond yields hit two month high
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
Business Post
22-05-2025
- Business
- Business Post
Profits at Telegram jumped to $540 million last year
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
Business Post
22-05-2025
- Business
- Business Post
Iseq opens red and Glenveagh shares drop despite strong delivery forecast
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
