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Oil prices steady amid easing trade tensions

21 August 2019

Oil prices steady amid easing trade tensions

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Market commentary

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South Africa

The JSE fell on Tuesday as food and drug retailers posted their biggest daily loss in over seven months. Shortly after the closing bell, the All Share was down by 0.19%.

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United States

US markets struggled for direction on Tuesday after a mixed bag of retail earnings did little to influence market sentiment. The Dow was down 0.22% just after the JSE closed.

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Europe

European shares endured a choppy day as positive earnings from British drug maker AstraZeneca were countered by recession fears. At about 19h00, the FTSE 100 was down 0.85%.

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Hong Kong

Hong Kong stocks ended lower in thin trade on Tuesday as investors held on to gains made in the previous session on reports of trimmed interest rates in China. The Hang Seng Index ended down by 0.25%.

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Japan

Posting a third consecutive day of gains, Japanese shares rose on Tuesday as investors sought equities on the back of easing trade tensions. The Nikkei Index closed up 0.55%.

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Rand

The rand strengthened on Tuesday as market participants cheered the idea that major economies would take steps to boost slowing growth. Just after the JSE closed, the rand strengthened to R15.36/$.

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Precious metals

Gold prices held steady on Tuesday following increased risk appetite as investors awaited new catalysts. At 19h15, an ounce of spot gold traded at $1 505.26.

Oil Icon
Oil

Oil prices rose on Tuesday on the back of easing trade tensions after US President Donald Trump said he was positive that trade talks with China would eventually bear fruit. At 20h20, a barrel of Brent crude traded at $59.80.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 54 280.80 - 0.19 - 6.61 - 1.93 - 0.77 - 1.75
Gold mining 2 484.78 3.78 17.85 83.45 43.88 173.55
Basic minerals 30 949.50 - 0.45 - 7.07 0.17 - 2.45 11.19
Industrial index 75 774.88 - 0.15 - 4.31 1.88 4.91 - 4.82
Financial 37 058.24 0.00 - 10.86 - 11.45 - 9.72 - 7.61
Fin + Ind 30 7 341.89 - 0.10 - 6.44 - 2.66 - 0.12 - 5.68
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) 25 962.44 - 0.66 - 4.11 1.77 1.26 3.24
S&P 500 PR (USD) 2 900.51 - 0.78 - 2.36 2.64 5.22 3.60
NASDAQ (USD) 7 948.56 - 0.67 - 2.30 3.48 6.73 2.76
FT-100 (GBP) 7 125.00 - 0.90 - 4.23 - 1.24 1.66 - 1.83
Hang Seng (HKD) 26 231.54 - 0.23 - 8.68 - 3.74 - 5.58 - 1.54
Nikkei 225 (JPY) 20 677.22 0.55 - 3.67 - 2.70 - 2.43 - 4.85
MSCI World (USD) 6 174.07 - 0.57 - 3.25 - 11.45 2.94 0.77
Frankfurt (EUR) 5 201.49 - 0.55 - 4.97 - 3.24 2.19 - 5.52
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 502.65 0.22 4.56 17.83 11.66 26.41
Platinum ($) 854.00 1.18 - 0.35 4.27 3.64 7.42
Brent Oil ($) 60.03 0.49 - 3.91 - 16.59 - 10.51 - 16.87
Rand/USD 0.15 0.01 -0.10 -0.07 -0.10 -0.06
Rand/GBP 0.19 0.00 -0.07 -0.02 -0.02 -0.01
Rand/EUR 0.17 0.00 -0.09 -0.06 -0.07 -0.02
ALBI (R) 674.80 0.29 - 2.32 1.40 5.05 10.58
  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. Inflation Rate JUL
  1. CA:Inflation Rate JUL
  2. ES: Balance of Trade 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 3.90 8.06 7.98 8.05 7.95 7.68
PSG Wealth Income FoF D 3.95 7.55 7.63 7.86 8.05 8.10
PSG Wealth Preserver FoF D 1.81 1.78 4.48 5.15 5.82 6.60
PSG Wealth Moderate FoF D 0.46 - 2.23 2.56 3.78 4.73 5.59
PSG Wealth Creator FoF D - 3.04 - 5.64 - 0.14 1.70 2.99 2.84
PSG Wealth Global Moderate FF D 9.58 4.03 9.68 8.22 6.92 9.23
PSG Wealth Global Creator FF D 12.55 7.09 15.76 14.47 12.14 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D 1.76 0.89 2.13 3.88 2.67 1.53
PSG Wealth Global Creator FoF D 5.10 4.27 8.43 9.98 0.08 6.89
PSG Wealth Global Preserver FoF (USD) D 2.37 3.78 2.27 3.11 4.20 3.25
PSG Wealth Global Flexible FoF (USD) D 1.97 3.25 6.25 8.28 7.77 6.08
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 8.05 6.91 4.56 5.10 8.90 7.67
PSG Wealth Global Flexible FoF (GBP) D 9.15 8.12 8.64 10.16 12.94 12.06
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.57 7.30 7.34 7.45 7.32 7.13
PSG Income A 4.04 8.43 8.17 8.32 8.24 7.90
PSG Diversified Income 3.13 5.82 6.82 7.33 7.60 7.57
PSG Stable A - 2.97 - 3.49 2.01 3.78 4.82 5.60
PSG Balanced A - 8.12 - 12.05 - 2.75 1.01 2.65 4.22
PSG Flexible A - 7.78 - 10.91 - 2.05 1.70 3.72 5.14
PSG SA Equity D - 14.68 - 19.42 - 10.52 - 4.32 - -
PSG Equity A - 12.30 - 17.49 - 6.51 - 0.70 0.95 1.61
PSG Global Flexible FF A - 5.86 - 11.24 1.20 4.67 0.04 -
PSG Global Equity FF A - 8.55 - 14.30 0.55 4.80 4.18 6.01
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 12.93 - 14.15 - 5.50 0.88 0.85 - 0.43
PSG Global Equity USD - 14.91 - 16.68 - 5.77 1.27 0.76 - 0.97
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 3.41 6.85 7.09 7.37 7.41 7.20
PSG Direct Low Equity - 3.27 - 4.26 1.35 3.33 4.38 5.19
PSG Direct Managed - 8.24 - 12.16 - 3.01 0.72 2.45 3.98
PSG Direct Aggressive - 8.87 - 13.19 - 2.94 1.31 2.82 -
PSG Direct Global Managed - 6.07 - 11.64 0.74 4.20 3.98 -
PSG Direct Global Aggressive - 7.77 - 13.56 0.35 4.29 3.82 -
  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 -0.07 -0.11 -0.03 -0.01 - -
PSG Wealth SA Property Equity Portfolio -0.11 -0.14 -0.10 -0.06 - -
PSG Wealth SA Dividend Income Equity Portfolio -0.10 -0.13 -0.02 0.00 - -
PSG Wealth Offshore Equity Portfolio (USD) 0.05 0.07 0.11 0.13 - -
PSG Wealth Managed Volatility Equity Portfolio -0.09 -0.17 -0.07 -0.05 - -
  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 AVI SJ is neutral; click here to read the full report on our secure site.
  • AVI is a high-quality food producer with a strong balance sheet and sound cash generation.
  • Earnings and operating margins have come under pressure lately due to sales volume weakness due to constrained consumer spending and consumers trading down on premium products.


company logo

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.


Corporate actions

Date Company Share code Expectation
21 August 2019 FirstRand Limited Non-Cumulative, Variable Rate, Non-Redeemable B Preference Shares FSRP Cash Dividend
21 August 2019 Investec Bank Ltd Credit-Linked Redeemable Cumulative Non_Participating Unsecured Preference Shares IBRP4 Cash Dividend
21 August 2019 Investec Bank (Mauritius) Limited IMRP3 Cash Dividend
21 August 2019 Investec Bank (Mauritius) Limited IMRP6 Cash Dividend
21 August 2019 Liberty two Degrees L2D Cash Dividend
21 August 2019 Mix Telematics Limited MIX Cash Dividend
21 August 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.

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Author
author

Adriaan Pask PhD

Chief Investment Officer


At PSG Wealth
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