Back to top
SEARCH PSG

To search, just start typing...

SEARCH RESULTS

LOGIN

Please select which division you would like to log in to.


JSE records worst week in over a year amid US-China trade apprehensions

13 May 2019

JSE records worst week in over a year amid US-China trade apprehensions

banner

Market commentary

SA flag Icon
South Africa

The JSE tracked global markets on Friday on a path to recovery from sharp losses suffered in the previous session amid risk-off global trade. Shortly after the closing bell, the All Share gained 0.50%.

US flag Icon
United States

US stocks traded lower on Friday as investors expressed concerns over the possibility of a prolonged US-China trade war and the bearing it could have on the global economy. At 17h50, Dow Jones futures had lost over 1%.

EU flag Icon
Europe

European shares traded higher on Friday amid optimism that the US and China might still be able to salvage what’s left of the trade talks, even as a tariff hike on Chinese imports took effect. At 18h00, the pan-European Stoxx 600 gained 0.32%.

HK flag Icon
Hong Kong

Chinese shares climbed while the yuan strengthened on Friday as the US-Sino trade negotiations continued in an attempt to rescue an ailing trade deal. The Hang Seng ended the day 0.84% in the green.

Japan flag Icon
Japan

The Nikkei continued on a downward spiral for a fifth consecutive day on Friday amid ongoing trade negotiations between the world’s largest economies. At 18h00 on Friday, the Nikkei had lost over 0.20%.

Rand Icon
Rand

The rand recorded a stellar performance on Friday afternoon, boosted by improved global sentiment and the general election results. At 18h15, the rand traded R14.34 against the dollar.

Precious metals Icon
Precious metals

Gold prices were on track for a weekly gain on Friday after Washington made good on its promise to hike tariffs on Chinese goods amid crucial trade talks between the two countries. At 18h30, Spot gold was up trading at $1 285.85 an ounce.

Oil Icon
Oil

Oil prices went up on Friday, boosted by tighter supply amid ongoing OPEC production cuts and US sanctions on Iran and Venezuela. At 18h45, a barrel of Brent crude was trading at $71.14.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 56 780.75 0.50 - 2.74 8.04 8.35 1.18
Gold mining 1 365.70 - 2.25 - 11.15 - 6.53 24.78 29.51
Basic minerals 31 164.46 - 0.52 - 9.14 6.66 12.13 20.16
Industrial index 76 850.47 0.22 - 1.26 11.10 9.62 - 5.82
Financial 43 064.60 2.11 1.42 4.02 2.79 - 0.42
Fin + Ind 30 7 782.06 0.85 - 0.37 8.55 7.17 - 4.06
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) 25 942.37 0.48 - 0.61 3.95 1.02 7.36
S&P 500 PR (USD) 2 881.40 0.41 - 0.10 6.96 4.69 7.99
NASDAQ (USD) 7 916.94 0.12 - 0.51 8.78 7.49 8.12
FT-100 (GBP) 7 203.29 - 0.06 - 2.51 3.64 3.72 - 2.48
Hang Seng (HKD) 28 550.24 0.84 - 5.20 2.57 12.13 - 4.11
Nikkei 225 (JPY) 21 344.92 - 0.27 - 1.58 5.90 - 3.02 - 3.13
Paris CAC (EUR) 5 327.44 0.28 - 1.40 8.46 5.63 - 1.42
Frankfurt (EUR) 5 440.96 0.72 1.29 10.57 4.60 - 7.39
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 285.40 0.10 - 1.49 - 1.96 5.44 - 2.24
Platinum ($) 858.00 0.23 - 3.70 7.92 - 0.35 - 6.33
Brent Oil ($) 70.62 0.33 - 1.55 13.72 0.63 - 8.84
Rand/USD 14.22 0.76 -1.95 -3.14 1.51 -15.48
Rand/GBP 18.50 0.78 -1.28 -4.31 1.46 -11.03
Rand/EUR 15.97 0.76 -1.23 -2.71 2.11 -8.81
ALBI (R) 667.93 0.02 0.54 3.88 8.51 7.13
  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: No economic data scheduled for release
  1. JP: Leading Economic Index Prel MAR
  2. CN: FDI (YTD) APR

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 3.90 7.95 8.00 8.09 7.87 7.53
PSG Wealth Income FoF D 3.97 7.64 7.86 8.23 8.15 8.11
PSG Wealth Preserver FoF D 3.29 5.34 5.47 5.78 6.35 7.28
PSG Wealth Moderate FoF D 3.35 3.65 4.43 5.15 5.40 6.76
PSG Wealth Creator FoF D 4.31 0.29 2.99 5.19 3.26 4.77
PSG Wealth Global Moderate FF D 3.56 14.37 5.75 3.14 6.43 8.59
PSG Wealth Global Creator FF D 6.23 22.01 12.33 9.90 12.79 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 2.91 0.10 3.05 4.92 1.41 1.73
PSG Wealth Global Creator FoF D 5.53 6.78 9.39 11.74 7.36 7.26
PSG Wealth Global Preserver FoF (USD) D 3.48 3.48 2.95 4.57 3.47 3.24
PSG Wealth Global Flexible FoF (USD) D 5.82 7.47 8.28 10.53 7.48 6.52
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 3.78 5.99 2.72 7.13 6.31 6.73
PSG Wealth Global Flexible FoF (GBP) D 5.89 11.17 6.93 13.24 10.37 11.38
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.56 7.27 7.38 7.45 7.26 7.05
PSG Income A 4.28 8.15 8.35 8.49 8.14 7.84
PSG Diversified Income 3.49 6.68 7.48 7.89 7.79 7.71
PSG Stable A 0.08 1.95 5.01 6.23 5.96 6.86
PSG Balanced A - 3.96 - 2.42 2.49 5.20 4.21 6.42
PSG Flexible A - 3.31 - 2.01 2.77 5.72 5.05 7.22
PSG SA Equity D - 5.48 - 11.40 - 1.15 4.33 - -
PSG Equity A - 5.61 - 6.30 0.47 6.00 2.16 4.80
PSG Global Flexible FF A - 5.49 6.18 2.43 4.15 6.19 -
PSG Global Equity FF A - 6.83 4.82 2.75 5.58 6.12 7.72
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 6.02 - 7.12 0.18 6.49 1.35 1.69
PSG Global Equity USD - 7.20 - 8.03 0.57 8.01 1.14 1.41
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 3.67 7.02 7.43 7.66 7.42 7.21
PSG Direct Low Equity - 0.44 1.36 4.43 5.83 5.44 6.45
PSG Direct Managed - 4.01 - 2.76 2.10 4.86 3.95 6.14
PSG Direct Aggressive - 4.57 - 1.86 1.74 5.18 4.20 -
PSG Direct Global Managed - 5.71 5.70 1.96 3.67 5.71 -
PSG Direct Global Aggressive - 6.54 4.85 2.17 4.58 5.67 -
  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 -0.47 -5.50 1.38 4.62 - -
PSG Wealth SA Property Equity Portfolio -8.65 -11.06 -5.71 -4.66 - -
PSG Wealth SA Dividend Income Equity Portfolio 0.34 -6.81 4.86 6.4 - -
PSG Wealth Offshore Equity Portfolio (USD) 4.82 7.94 13.04 13.75 - -
PSG Wealth Managed Volatility Equity Portfolio -3.62 -11.50 -3.53 - - -
  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

company logo

Highlights

  • We recommend an underweight positioning for HEIA NA; click here to read the full report
  • New product innovations such as low and non-alcoholic extensions to the Heineken brand is a growth prospect, although the threat of it cannibalising other brands within the portfolio is present.
  • We believe the share is fully valued at current levels, trading at a forward P/E of 20.83 times, one standard deviation away from its average forward P/E of 19.47 times.


company logo

Highlights

  • We recommend an overweight positioning for DGE LN; click here to read the full report
  • The group has a strong portfolio of brands, a global footprint and structural growth tailwinds as it focuses on the premiumisation of its brands.
  • As such, the medium-term outlook for organic revenue growth remains positive.


company logo

Highlights

  • We recommend an overweight positioning for TRU SJ; click here to read the full report
  • Return on equity has been under pressure given top-line growth that has been muted given the challenging macro environment.
  • Stronger top-line growth remains the group’s greatest challenge and is largely influenced by economic activity and merchandise inflation.


Corporate actions

Date Company Share code Expectation
15 May 2019 Atlantic Leaf Properties Limited ALP Cash Dividend
15 May 2019 Global Asset Management Limited GAM Mandatory Offer
15 May 2019 Indequity Group Limited IDQ Cash Distribution
15 May 2019 Investec Bank (Mauritius) Limited IMRP7 Cash Dividend
15 May 2019 Master Drilling Group Limited MDI Cash Dividend
15 May 2019 PSG Group Limited PSG Cash Dividend
15 May 2019 Vivo Energy Plc VVO 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.

Recommended Articles

Tech shares pull Wall Street higher as US eases Huawei restrictions

Global shares slide as worries about Huawei fallout escalates

No end in sight for the US-China trade war

Author
author

Adriaan Pask PhD

Chief Investment Officer


At PSG Wealth
Copyright © PSG Konsult Ltd (1998-2019), All Rights Reserved. FAIS affiliates of the PSG Konsult Group are authorised financial services providers.