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

FANews
FANews
RELATED CATEGORIES
Category Investments

Half time…

02 July 2005 Angelo Coppola

The Efficient Group reports that the JSE’s star performers were the overseas players BHP Billiton (+1.41%) and Anglo American (+1.34%), the poor performers were retailers Shoprite (-2.66%) and Woolworths (-1.90%).

The markets were supported by a rand that slipped and dropped between 12 and 17 cents against the large players. The rand were not the only loser as the dollar punched 2 cents from the euro. The stronger dollar resulted in weaker gold and platinum prices while oil ignored the dollar and jumped 3.71%.

The Dow Jones closed higher (0.28%) ahead of the 4th of July holiday as consumer sentiment and manufacturing data showed improvements.

European markets closed higher with the FTSE (0.93%) reaching a three year high as heavyweights such as BP, Shell, and Standard Chartered made strong moves higher.

Toyota and Sony are the main drivers of the Nikkei’s gains this morning, while the Hang Seng is currently lower after it was closed on Friday.

We expect a quiet trading day as the US markets are closed and the lack of market moving economic data this week.

Quick Polls

QUESTION

The second draft amendments to Regulation 28 will allow retirement funds to allocate up to 45% of their assets to SA infrastructure, with a further 10% for rest of Africa; but the equity & offshore caps remain unchanged. What are your thoughts on the proposal?

ANSWER

Infrastructure? You mean cash returns with higher risk!?!
Infrastructure cap is way too high
Offshore limit still needs to be raised
Who cares… Reg 28 does not apply to discretionary savings
fanews magazine
FAnews November 2021 Get the latest issue of FAnews

This month's headlines

New proposals to amend PPRs have major impact
The untold truth about intermediary agreements
Rethinking claims
Tik-Tok: The clock is ticking on SA’s R45 billion unclaimed benefits bomb
Medical schemes’ average increases for 2022
Disability claims aggregation
Subscribe now