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A quiet day for global markets

01 August 2019

A quiet day for global markets

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Market commentary

SA flag Icon
South Africa

Tracking Asian markets for the most part of the day, the JSE ended lower on Wednesday after hopes of a possible trade deal between Washington and Beijing were dampened by US President Donald Trump’s attack on China. Shortly after the closing bell, the All Share was down by 0.80%.

US flag Icon
United States

Shares on Wall Street rebounded on Wednesday following the release of a better-than-expected earnings report from Apple Inc, while investors kept a close watch on the US Federal Reserve (Fed) and its stance on monetary policy. At 17h45, the S&P 500 was trading at 0.12% in the green.

EU flag Icon
Europe

European shares rebounded on Wednesday following a solid performance by retail banking company BNP Paribas which countered the release of a poor earnings report from market heavyweight Lloyds and concerns of a no-deal Brexit. At 17h50, the DAX was 0.33% in the green.

HK flag Icon
Hong Kong

Asian stock markets fell on Wednesday after Trump warned China not to drag the trade negotiations while Beijing’s negative stance on the property market weighed on sentiment. At 17h55, the Hang Seng lost 1.18%.

Japan flag Icon
Japan

Threats of a no-deal conclusion from the US-China trade talks weighed heavily on Japanese shares on Wednesday, while automotive parts suppliers and banks posted poor earnings, which dragged down overall market sentiment. At the closing bell, the Nikkei had lost 0.86%.

Rand Icon
Rand

The rand strengthened against major global currencies on Wednesday as markets priced in a 25 basis-points rate cut, but perhaps more important for investors was to see whether the Fed would be more aggressive in easing monetary policy in the near future. At 18h00, the rand traded at R14.16 against the dollar.

Precious metals Icon
Precious metals

Gold prices held steady on Wednesday as investors remained optimistic that the Fed would lower interest rates by at least 25 basis points, which would reduce the opportunity cost of holding non-yielding gold. At 18h05, spot gold was trading in the green at $1 428.23 an ounce.

Oil Icon
Oil

A decline in US inventories prompted a fifth consecutive day of gains for oil prices on Wednesday ahead of a much-anticipated interest rate cut by the Fed, which would encourage oil demand and apply downward pressure on the dollar. At 18h10, a barrel of Brent crude was trading at $65.08.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 56 784.61 - 0.80 - 2.37 - 2.66 6.56 2.19
Gold mining 2 056.01 - 4.45 2.28 43.51 41.26 95.10
Basic minerals 32 329.73 - 1.19 - 5.24 - 0.92 10.90 16.77
Industrial index 78 763.97 - 0.47 1.23 - 1.21 12.12 - 0.52
Financial 39 385.05 - 1.04 - 6.44 - 7.42 - 7.33 - 5.55
Fin + Ind 30 7 684.54 - 0.65 - 1.32 - 3.25 5.14 - 2.15
International markets (Base currency)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Dow Jones (USD) 26 864.27 - 1.23 1.12 1.65 8.75 8.22
S&P 500 PR (USD) 2 980.38 - 1.09 1.44 1.69 11.32 7.99
NASDAQ (USD) 8 175.42 - 1.18 2.15 1.27 12.89 7.74
FT-100 (GBP) 7 586.78 - 0.78 2.24 3.24 11.62 2.28
Hang Seng (HKD) 27 777.75 - 1.31 - 2.29 - 4.51 1.89 0.66
Nikkei 225 (JPY) 21 521.53 - 0.86 1.16 - 3.08 4.77 - 2.52
MSCI World (USD) 6 362.44 - 0.72 0.50 - 7.42 9.07 3.62
Frankfurt (EUR) 5 441.61 0.34 - 1.69 - 1.26 9.09 - 4.81
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 430.55 0.15 1.23 11.57 8.17 17.34
Platinum ($) 874.00 - 0.79 7.11 - 2.67 6.85 5.81
Brent Oil ($) 65.17 0.70 - 2.07 - 10.48 5.30 - 12.23
Rand/USD 14.37 - 1.29 - 1.57 1.12 - 7.52 - 8.33
Rand/GBP 17.42 - 1.01 2.52 8.06 0.33 - 0.18
Rand/EUR 15.87 - 0.29 0.54 2.24 - 3.76 - 2.45
ALBI (R) 676.53 - 0.11 - 0.74 2.16 3.84 8.06
  1. Some data may be delayed, the above table reflects the latest available information
  2. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month


Economic calendar

Local International
  1. ZA: ABSA Manufacturing PMI JUL
  1. CN: Caixin Manufacturing PMI JUL
  2. US: Markit Manufacturing PMI Final JUL

Source: Reuters, Business Day, Trading Economics


PSG Product Matrix

Fund matrix

PSG Wealth Solutions
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Enhanced Interest D 3.94 8.07 8.01 8.08 7.94 7.61
PSG Wealth Income FoF D 4.08 7.79 7.80 7.98 8.10 8.05
PSG Wealth Preserver FoF D 3.77 4.06 5.19 5.50 6.14 6.66
PSG Wealth Moderate FoF D 4.46 1.53 3.80 4.51 5.33 5.77
PSG Wealth Creator FoF D 2.95 - 0.62 2.20 3.59 3.91 3.36
PSG Wealth Global Moderate FF D 11.00 9.41 7.42 5.66 5.76 7.86
PSG Wealth Global Creator FF D 19.40 14.40 14.22 12.49 11.79 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 5.87 1.42 2.78 4.97 2.71 1.81
PSG Wealth Global Creator FoF D 14.32 6.57 9.31 11.68 8.44 7.48
PSG Wealth Global Preserver FoF (USD) D 4.61 4.45 2.87 3.69 4.46 3.21
PSG Wealth Global Flexible FoF (USD) D 8.83 4.95 6.96 9.78 8.28 6.18
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 10.21 10.08 5.76 5.71 9.12 7.81
PSG Wealth Global Flexible FoF (GBP) D 16.77 12.79 10.20 11.77 13.49 12.52
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.58 7.30 7.35 7.23 7.30 7.10
PSG Income A 4.04 8.19 8.25 8.38 8.23 7.89
PSG Diversified Income 3.36 6.20 7.23 7.60 7.72 7.62
PSG Stable A - 1.00 - 0.73 3.59 4.78 5.27 5.93
PSG Balanced A - 4.58 - 7.17 - 0.18 2.71 3.30 4.77
PSG Flexible A - 4.68 - 5.95 0.14 3.25 4.14 5.55
PSG SA Equity D - 12.59 - 15.35 - 6.43 - 1.20 - -
PSG Equity A - 8.94 - 11.55 - 3.47 1.43 1.42 2.08
PSG Global Flexible FF A 0.11 - 1.59 1.65 4.65 4.59 -
PSG Global Equity FF A - 0.78 - 3.60 1.64 5.44 4.61 5.91
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 4.38 - 8.95 - 2.40 4.38 2.18 0.95
PSG Global Equity USD - 5.13 - 10.48 - 2.28 5.27 2.19 0.61
PSG Direct Portfolios
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Direct Flexible Income 3.50 6.87 7.28 7.47 7.45 7.21
PSG Direct Low Equity - 1.25 - 1.41 2.94 4.36 4.81 5.52
PSG Direct Managed - 4.82 - 7.29 - 0.55 2.38 3.04 4.49
PSG Direct Aggressive - 5.08 - 6.98 - 0.88 2.69 3.19 -
PSG Direct Global Managed - 0.12 - 2.04 1.19 4.17 4.12 -
PSG Direct Global Aggressive - 0.67 - 3.29 1.19 4.67 4.13 -
  1. The PSG Wealth Solutions are exclusively available through registered PSG planners and/or advisers
  2. The above information reflects the latest available data at time of distribution, as such product performance data reflects T-2 numbers
  3. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month
  4. The PSG Best Ideas Portfolios were renamed to the PSG Direct Portfolios in February 2018

Equity portfolio matrix

PSG Wealth House View Portfolios
Portfolio 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth SA Equity Portfolio - 3.07 - 7.14 - 0.13 1.89 - -
PSG Wealth SA Property Equity Portfolio - 8.45 - 9.50 - 7.57 - 4.89 - -
PSG Wealth SA Dividend Income Equity Portfolio - 5.62 - 8.24 1.90 3.03 - -
PSG Wealth Offshore Equity Portfolio (USD) 10.21 9.27 12.01 13.28 - -
PSG Wealth Managed Volatility Equity Portfolio - 6.18 - 12.12 - 4.71 - 3.19 - -
  1. The PSG Wealth equity portfolios are exclusively available through registered PSG planners and/or advisers
  2. PSG Wealth equity portfolio performance are shown gross of management fees, but net of brokerage and other trading costs
  3. PSG Wealth SA and Offshore Equity Portfolio Inception date: 30 August 2015
  4. PSG Wealth SA Listed Property Portfolio Inception date: 1 December 2015
  5. PSG Wealth Dividend Income Equity Portfolio Inception date: 29 April 2016
  6. PSG Wealth Managed Volatility Equity Portfolio Inception date: 28 July 2016
  7. PSG Wealth Funds are exclusively available through registered PSG planners and/or advisers


Recent Investment Ideas

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Highlights

  • Our recommendation for HMN SJ is underweight; click here to read the full report on our secure site.
  • Hammerson’s direct property portfolio is not diversified across sectors as the portfolio consists of retail assets only. However, it is diversified geographically with flagship destinations in the UK, France and Ireland.
  • The group’s dividend yield is trading above its long-term average and is well above the yield offered by its peers.


company logo

Highlights

  • Our recommendation for ITU SJ is underweight; click here to read the full report on our secure site.
  • Intu’s direct property portfolio is undiversified across sectors as the portfolio consists of retail assets only and, geographically, the majority of the portfolio is held in the UK.
  • In 2018, the demand for prime shopping centres has significantly fallen due to the uncertainty of Brexit, the structural change in retail and the higher-than-normal level of administrations, and company-voluntary arrangements.


company logo

Highlights

  • Our recommendation for MND SJ is overweight; click here to read the full report on our secure site.
  • Mondi has shown robust operating performance and strong cost control.
  • Although macroeconomic uncertainties remain due to Brexit and the stability of the Eurozone, the group is focused on delivering accretive growth through its strong brand and good structural growth drivers.


Corporate actions

Date Company Share code Expectation
06 August 2019 Anglo American Platinum Limited AMS Cash Dividend
06 August 2019 Hudaco Industries Limited HDC Cash Dividend
06 August 2019 Telemasters Holdings Limited TLM Cash Dividend
  1. The information above is to the best of our knowledge correct at the time of distribution but due to the nature thereof cannot be guaranteed.
  2. This document only contains general information and not the opinion of the distributor.

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Author
author

Adriaan Pask PhD

Chief Investment Officer


At PSG Wealth
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