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Optimistic Chinese data lift equities

Optimistic Chinese data lift equities

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Market commentary

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South Africa

The JSE started the week in positive territory thanks to risk-on trade and Naspers’s strong performance. At the closing bell, the All Share was 0.45% higher.

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United States

On Monday, the main indices in the US opened higher as the new earnings season started on a positive note when Citigroup’s results outperformed expectations. At 19h00, the Nasdaq traded 0.59% in the green.

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Europe

It was a strong start to the week for European shares on the back of upbeat Chinese data that boosted trade-sensitive German equities. The pan-European STOXX 600 Index closed the day 0.23% in the green.

HK flag Icon
Hong Kong

Asian markets rose on Monday after the release of encouraging Chinese economic data left investors positive. At 19h05, the Hang Seng stood 0.21% in the green.

Japan flag Icon
Japan

Japanese markets were closed due to a public holiday.

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Rand

On Monday, the local currency recorded its fourth uninterrupted day of gains as it headed to the R13.85/$ threshold, but could not quite breakthrough. At 19h05, the rand traded R13.92 against the dollar.

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Precious metals

Bullion prices lost some ground on Monday due to investors flocking to equities after China released optimistic economic data. At 19h05, spot gold traded at $1 413.03 an ounce.

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Oil

Oil prices slid on Monday after reports that “the impact of a tropical storm on the US Gulf Coast production and refining would be short-lived”, and that the positive, yet slow, Chinese data might hamper crude demands. At 19h05, a barrel of Brent crude was trading at $66.78.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 57 537.23 0.45 - 0.99 - 0.92 9.22 5.50
Gold mining 1 986.64 0.59 3.87 36.10 48.18 93.76
Basic minerals 32 950.36 0.55 - 2.33 - 2.71 16.80 22.85
Industrial index 78 317.40 0.73 - 0.04 0.98 10.54 - 1.04
Financial 41 269.06 - 0.23 - 1.44 - 2.74 - 0.14 3.44
Fin + Ind 30 7 770.19 0.42 - 0.50 - 0.26 6.79 0.40
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) 27 359.16 0.10 4.95 4.34 15.07 11.95
S&P 500 PR (USD) 3 014.30 0.02 4.54 4.26 16.66 9.79
NASDAQ (USD) 8 258.19 0.17 5.97 3.82 18.23 6.69
FT-100 (GBP) 7 531.72 0.34 2.67 2.36 12.00 2.69
Hang Seng (HKD) 28 554.88 0.29 6.15 - 2.20 9.11 3.69
Nikkei 225 (JPY) 21 685.90 0.20 2.87 - 0.61 7.72 - 0.16
MSCI World (USD) 6 438.33 0.08 4.02 - 2.74 14.07 5.80
Frankfurt (EUR) 5 505.49 0.52 2.41 3.05 13.73 - 1.22
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 416.25 0.76 4.72 10.06 9.84 14.17
Platinum ($) 839.00 1.82 2.57 - 5.62 4.74 0.84
Brent Oil ($) 66.48 - 0.36 7.21 - 6.60 9.63 - 11.75
Rand/USD 13.90 0.38 6.08 0.73 -1.42 -4.75
Rand/GBP 17.40 0.79 6.17 4.88 1.37 0.99
Rand/EUR 15.65 0.47 5.84 1.12 -0.31 -0.95
ALBI (R) 686.57 0.30 2.87 3.23 7.26 11.38
  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. No economic data scheduled for release
  1. UK: Claimant Count Change JUN
  2. DE: ZEW Economic Sentiment Index JUL
  3. US: Retail sales JUN

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 3.96 8.03 8.01 8.07 7.93 7.60
PSG Wealth Income FoF D 4.47 7.95 7.95 8.07 8.21 8.11
PSG Wealth Preserver FoF D 4.43 4.42 5.63 5.57 6.34 6.75
PSG Wealth Moderate FoF D 5.30 1.98 4.55 4.75 5.47 5.96
PSG Wealth Creator FoF D 4.24 0.34 3.53 4.20 3.73 3.92
PSG Wealth Global Moderate FF D 8.88 7.08 6.39 4.90 6.18 7.48
PSG Wealth Global Creator FF D 17.81 11.70 13.19 11.77 12.47 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 7.76 2.68 3.51 5.37 2.78 1.93
PSG Wealth Global Creator FoF D 16.56 7.51 10.15 12.24 8.84 7.55
PSG Wealth Global Preserver FoF (USD) D 5.68 5.23 3.11 4.32 4.61 3.40
PSG Wealth Global Flexible FoF (USD) D 10.32 6.36 8.17 11.22 8.94 6.47
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 7.34 8.74 4.12 4.96 8.37 7.57
PSG Wealth Global Flexible FoF (GBP) D 12.82 11.87 8.91 11.54 13.04 12.30
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.58 7.30 7.35 7.45 7.30 7.10
PSG Income A 4.17 8.34 8.39 8.42 8.24 7.89
PSG Diversified Income 3.73 6.92 7.57 7.81 7.89 7.71
PSG Stable A - 0.35 0.60 4.28 5.34 5.59 6.19
PSG Balanced A - 3.86 - 5.65 0.72 3.58 3.71 5.18
PSG Flexible A - 3.56 - 4.82 0.83 4.15 4.49 5.93
PSG SA Equity D - 10.53 - 12.50 - 4.59 0.58 - -
PSG Equity A - 7.21 - 9.44 - 2.29 2.76 1.61 2.84
PSG Global Flexible FF A - 0.88 - 4.14 0.82 4.10 4.92 -
PSG Global Equity FF A - 1.44 - 5.91 0.86 5.09 4.87 5.70
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 0.90 - 7.24 - 1.37 5.10 2.07 1.26
PSG Global Equity USD - 1.24 - 8.52 - 1.23 6.19 1.99 0.89
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 3.71 7.21 7.48 7.60 7.51 7.25
PSG Direct Low Equity - 0.63 - 0.14 3.61 4.92 5.12 5.78
PSG Direct Managed - 4.00 - 5.87 0.29 3.25 3.44 4.89
PSG Direct Aggressive - 4.20 - 6.30 - 0.36 3.41 3.49 -
PSG Direct Global Managed - 1.10 - 4.57 0.36 3.63 4.44 -
PSG Direct Global Aggressive - 1.45 - 5.68 0.40 4.26 4.42 -
  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 -1.92 -3.86 1.74 2.52 - -
PSG Wealth SA Property Equity Portfolio -0.76 -8.57 -6.77 -3.68 - -
PSG Wealth SA Dividend Income Equity Portfolio -2.07 -2.24 4.42 4.76 - -
PSG Wealth Offshore Equity Portfolio (USD) 13.34 11.56 12.27 13.99 - -
PSG Wealth Managed Volatility Equity Portfolio -4.56 -9.96 -4.13 - - -
  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 OMU SJ is overweight; click here to read the full report on our secure site.
  • Since the majority of the group's embedded value is in shareholders’ funds, which is more susceptible to market fluctuations, market returns and investment income will be the primary drivers of investment return.
  • We feel that downside is limited at the current valuation multiple and improved capital management with excess capital being returned to shareholders is likely to justify an improved multiple going forward.


company logo

Highlights

  • We recommend an Neutral positioning for FSR SJ; click here to read the full report on our secure site.
  • FirstRand’s new initiatives are showing uptake and have typically displayed resilience in earnings and income during recessions.
  • It is important to point out that the impairment ratio is still below the group’s through-the-cycle threshold.


company logo

Highlights

  • We recommend an overweight positioning for CAT US; click here to read the full report on our secure site.
  • The company has increased dividends for the past 25 consecutive years (including the GFC of 2008) and it trades at a dividend yield of 2.8%.
  • Dividend growth is targeted to range in the high-single digits in each of the next four years, while management has indicated it will continue to do share buybacks as it is still creating value at this stage.


Corporate actions

Date Company Share code Expectation
17 July 2019 Alexander Forbes Group Holdings Limited AFH Cash Dividend
17 July 2019 Alexander Forbes Group Holdings Limited AFH Special Cash Dividend
17 July 2019 Delta EMD Limited DTA Cash Dividend
17 July 2019 Delta EMD Limited DTA Liquidation Dividend
17 July 2019 Investec Bank Limited Redeemable Non-Participating Preference Shares IBRP1 Cash Dividend
17 July 2019 Lewis Group Limited LEW Cash Dividend
17 July 2019 Nictus Limited NCS Cash Dividend
17 July 2019 Primeserve Group Limited PMV Cash Dividend
17 July 2019 The Foschini Group Limited TFG 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.
Copyright © PSG Konsult Ltd (1998-2019), All Rights Reserved. FAIS affiliates of the PSG Konsult Group are authorised financial services providers.