KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES
Category Investments

Go for it…

06 January 2005 Angelo Coppola

Not even the poor performance of the banking (-2.74%) and retail (-3.21%) indices could dampen the surging JSE Securities Exchange (+0.97%) yesterday.

Gerbrand Smit, analyst at The Efficient Group says that the main driver of the bourse was the resources (+4.32%) with gold (+6.54%) and platinum (+6.85%) surging higher. Harmony (+8.93%) and Gold Fields (+8.53%) accelerated down the runway kicking dust in the eyes of the Anglo family.

The head of the family Anglo American gained 3.81% with Anglo Platinum the model child jumping 5.93%, while Anglo Gold was the step child only recording a gain of 2.96%.

The continued dollar (-0.68%) strength kept commodity, gold (-1.18%) and platinum (-0.88%) prices under pressure. Oil reminded us yesterday that it is still an unpredictable factor and does not abide to conventional thinking by rising to $42.59/barrel.

US equity markets looked good yesterday as only the Nasdaq (-0.06%) posted a small loss, with the S&P 500 (+0.35%) slowly moving along. European markets did well with the DAX (+1.00%) gaining the most as broker upgrades from Merrill Lynch helped vehicle-related industries higher.

Currently the Asian markets are mixed, with the Nikkei 225 (+0.48%) running along while the Hang Seng has reversed 0.38%. We expect the market to keep a close eye on the rand as resources stocks could be in favour in this regard.

Quick Polls

QUESTION

There are countless articles written about South Africa’s poor retirement outcomes. Which of the following would you single out as the biggest contributor to local savers not accumulating enough to buy an adequate and sustainable pension?

ANSWER

Lack of personal accountability
Poor participation in formal retirement funds
Reluctance to seek financial advice early on
SA’s high unemployment rate
fanews magazine
FAnews April 2022 Get the latest issue of FAnews

This month's headlines

The ethical core of insurance relationships
Debarment… a double whammy
A beginner’s guide to scaling the Tech Mountain
Leadership, climate and cybercrime… SA’s top risks
Unpacking the retirement reform developments
Subscribe now