Market Commentary

Unum Capital: Market Commentary and Trading Research Note [7-Oct-2019]

Unum Capital: Market Commentary and Trading Research Note [7-Oct-2019]

Despite JSE equities closing the week much lower than where it started, it may have just been a great opportunity for short term traders to pick up a few shares that have been battered and bruised as fears around the global economy filtered through to equity markets. On Friday, the JSE managed a small rebound, with the Top 40 adding 0.48% as traders saw the swing lows as an opportunity to buy stocks such as PSG (+4.94%), MTN (+3.74%) and RMB Holdings (+3.28%) while letting go of Anglogold Ashanti (-2.54%), Anglo American Platinum (-2.54%) and Sibanye Gold (-2.17%). We also…
Unum Capital: PMIs Sees Stocks Tumble

Unum Capital: PMIs Sees Stocks Tumble

On Tuesday, the JSE managed to cap further short term losses as a substantially weaker Rand supported shares which earn the majority of their revenues in foreign currency. Here, the likes of Prosus (+1.37%), Mondi (+1.76%), Sasol (+3.53%) and Kumba Iron ore (+4.59%) supported the All Share Index which closed higher by 120 points or 0.22% for the session. On the downside, Pepkor, Shoprite and MTN fell by 3.15%, 1.65% and 1.35% respectively. Driving the decline in currency on the day was the Absa Manufacturing PMI which fell to a decade low reading of 41.3 versus a previous reading of…