Unum Market Commentary: JSE Declines As Trade Fears Linger; Asia

11 sept 2018

South African equity markets started the week on a softer note as fears around trade between the United States and China continued to weigh on global sentiment. For the session, the All Share Index finished lower by 0.62% while the Top 40 declined by 0.57%, lead lower by Tiger Brands (-2.29%), Shoprite (-2.24%) and Bidvest (2.09%). On the upside, winners included Hammerson (2.33%), South 32 (2.19%) and Nepi Rockcastle (+1.23%). Over in Europe, the week got off to a positive start with the DAX, FTSE100 and CAC40 adding 0.22%, 0.02% and 0.33% respectively while indices in the US fared better than their Asian counterparts. This morning in Asia, equities are in the green, with the Nikkei leading the pack.

JSE Major Sectors

Resources 10 +0.11%
Industrial 25 -0.72%
Financial 15 -0.98%

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Coming up today is SA Manufacturing Production while on the international front major highlights include UK Unemployment. For the rest of the week's local data, you may view the Unum Capital Economic Calendar here: unum.co.za/economic-calendar/



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In currencies, the South African Rand trades as follows:

USDZAR -0.07% to 15.18
GBPZAR +0.06% to 19.80
EURZAR +0.00% to 17.61

Gold trades at $1198
Platinum at $789
Brent Crude Oil at $77.50

International Markets

This morning, Asian equities are as follows:

Nikkei 225 (+1.13%)
Hang Seng (-0.04%)
Shanghai Composite (+0.30%)

Latam Markets closed as follows:

Merval 25 (-1.19%)
Bovespa (+0.03%)
INMEX (-0.41%)
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Company News

AVI Limited - Results for the year ended 30 June 2018

Key Features
- Profit growth in a challenging demand environment
- Carefully balanced value versus volume across key categories
- Revenue up 1,9% to R13,44 billion
- Gross profit margin recovery in line with easing of Rand driven cost pressures
- Operating profit up 7,0% to R2,55 billion
- Cash generated by operations up 16,1% to R2,69 billion
- Capital expenditure to grow and sustain our businesses of R419,9 million
- Return on capital employed increased to 28,7%
- Headline earnings per share up 7,0% to 543,1 cents
- Final dividend of 260 cents per share, total normal dividend up 7,4% to 435 cents per share
- Special dividend of 250 cents per share
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Aus miners:
BHP Billiton (-1.15%)
Rio Tinto (+1.40%)
S32 (-0.86%)

FANGs
Facebook (+0.70%)
Amazon (-0.67%)
Netflix (-0.08%)
Google (-0.21%)

FTSE Miners:
Anglo American plc (-0.73%)
BHP Billiton plc (-0.29%)
Glencore plc (-1.76%)

Alibaba Holdings (-3.70%)
Tencent Holdings (-0.96%)

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The Unum Capital Trading Desk

Please feel free to contact the Unum Trading desk for any Trading related queries : 011 384 29 29