26 DAILY INVESTMENT UPDATE United States US markets ended firmly higher on Thursday as a recovery in oil prices triggered a stock market rally for a second straight session but analysts believe that the move was unlikely to push equity markets much higher in a sustainable fashion as the oil market is oversupplied. The energy sector was the worst performer on the S&P 500 index with Chevron posting the worst performance on the Dow Jones Industrial average. Europe European stocks bounced back on Thursday to recover some of the losses earlier in the week, as strong company earnings results supported market sentiment. British bank Lloyds soared 13.5% after announcing a special dividend payment and higher profits, while shares in the rig company Seadrill gained 6.7% as investors welcomed a refinancing plan. China Chinese stocks recovered modestly on Friday as investors took a breather following sharp losses yesterday. The benchmark Shanghai Composite index tumbled more than 6% on Thursday, to post its biggest one-day loss in a month. Investors remained cautious ahead of policy messages from Chinese and global leaders who are meeting in Shanghai for a G20 meeting. Local The JSE All Share Index gained 0.79% on Thursday as the local bourse tracked firmer European markets and reversed its review of Wednesday s local budget to a more positive one. Investors also seemed to ignore persistent growth concerns over China after the Shanghai Composite Index lost 6.41% to end at its lowest level since January. Japan The Nikkei Index surged to a 2½week high on Friday on the back of a firmer close on Wall Street overnight, as well a weaker yen. The share price of Sharp lost 15% after Taiwan's Foxconn said it was delaying the signing of a deal to take over the company after discovering previously undisclosed contingent liabilities. Rand Precious Metals Oil The rand gained against the dollar on Thursday afternoon as the rand recovered following major losses on Wednesday. Most of the negative move was as a result of Brazil s being downgraded to junk status by ratings agency Moody s, which had an impact on the rand. The rand was last trading at R15.5640 against the US dollar, R17.2142 against the euro and R21.7626 against the British pound. The gold price inched higher in Singapore trade on Friday, shrugging off a recovery on equity markets. Bullish technical charts suggest that there was still support for the safe-haven precious metal, while money continued to flow into exchange traded bullion funds. Gold was last trading at $1 237.38, with the platinum price at $919.80 and palladium at $480.10. Crude oil prices slipped lower in Asian trade on Friday following a report of a meeting by oil producers, where they discussed possible cuts on oil production. Traders, however, were not convinced that enough was being done to restrict the expanding global oversupply. Brent crude oil was last quoted at $35.05 a barrel.
Economic calendar Local International No new local economic events scheduled for today Japan: CPI Eurozone: Consumer confidence US: GDP US: Personal Income And Spending US: Advance Goods Trade Report US: University of Michigan Consumer Confidence Index Daily indicators Local Markets (R) Index Current Level 1 Day Move 3 Month Move 6 Month Move 1 Year Move ALSI 48,373.17 0.79-6.82-1.24-9.10 Gold Mining 2,034.17 0.75 130.47 114.83 52.65 Basic Minerals 18,701.17 1.69 3.62-5.24-27.16 Industrial Index 40,074.42 0.92-8.65-6.16-16.54 Financial 38,855.21 1.15-12.36-10.67-12.56 Fin + Ind 30 69,098.81 0.45-8.82 1.48-2.53 International Markets (Base currency) Index Current Level 1 Day Move 3 Month Move 6 Month Move 1 Year Move Dow Jones (USD) 16,697.29 1.29-6.27 6.58-8.38 S&P 500 PR (USD) 1,951.70 1.13-6.57 4.50-7.67 NASDAQ (USD) 4,582.21 0.86-10.44 1.67-7.76 FT-100 (GBP) 6,012.81 2.48-5.13-1.13-13.30 Hang Seng (HKD) 18,888.75-1.58-16.04-11.76-23.77 Nikkei 225 (JPY) 16,140.34 1.41-18.68-9.36-13.15 Paris CAC (EUR) 4,248.45 - -15.08-8.97-14.89 Frankfurt (EUR) 9,331.48 1.79-16.46-7.87-16.76 Other Markets Index Current Level 1 Day Move 3 Month Move 6 Month Move 1 Year Move Gold ($) 1,235.40 0.26 15.22 7.03 2.40 Platinum ($) 936.00 1.08 11.43-6.21-19.17 Brent Oil ($) 34.41 3.43-25.39-19.40-41.34 Rand/USD 15.56 0.26-9.05-18.58-35.78 Rand/GBP 21.76-0.18-1.23-7.58-22.31 Rand/EUR 17.21 0.03-13.67-16.51-31.88 ALBI (R) 484.26 0.63-3.07-0.17-2.87 Some data may be delayed, the above tables reflects the latest available information.
Company results calendar Company Reports Expected Day Date Company Share Code Expectation Friday 26 February 2016 Sabvest SBV Next Final Results Unconfirmed Friday 26 February 2016 Implats IMP Next Interim Results Confirmed Friday 26 February 2016 Caxton CAT Next Interim Results June Unconfirmed Friday 26 February 2016 Northam NHM Next Interim Results June Confirmed Friday 26 February 2016 Intu Plc ITU Next Final Results Confirmed Friday 26 February 2016 Lib-Hold LBH Next Final Results Confirmed Friday 26 February 2016 Capco CCO Next Final Results Unconfirmed Ex-Dividend Date Day Date Company Share Code Expectation Monday 29 February 2016 Hudaco HDC Final Dividend 345.00 ZARc Monday 29 February 2016 Indluplace ILU Regular Cash Dividend 22.93067 ZARc Monday 29 February 2016 Italtile ITE Interim Dividend 14.00 ZARc Monday 29 February 2016 Resilient RES Interim Dividend 232.46 ZARc Monday 29 February 2016 Woolies WHL Interim Dividend 133.00 ZARc Monday 7 March 2016 Fortress A FFA Interim Dividend 64.72 ZARc Monday 7 March 2016 Fortress B FFB Interim Dividend 62.81 ZARc Thursday 17 March 2016 Argent ART Interim Dividend 9.00 ZARc Dividend Pay Date Day Date Company Share Code Expectation Monday 29 February 2016 Mixtel MIX Interim Dividend 2.00 ZARc Monday 29 February 2016 Tower Property TWR Interim Dividend 45.1875 ZARc Monday 29 February 2016 Winhold WNH Regular Cash Dividend 7.00 ZARc Monday 7 March 2016 Hudaco HDC Final Dividend 345.00 ZARc Monday 7 March 2016 Indluplace ILU Regular Cash Dividend 22.93067 ZARc Monday 7 March 2016 Italtile ITE Interim Dividend 14.00 ZARc Monday 7 March 2016 Resilient RES Interim Dividend 232.46 ZARc Monday 7 March 2016 Woolies WHL Interim Dividend 133.00 ZARc Monday 14 March 2016 Finbond FGL Rights Issue.2598 for 1 Monday 14 March 2016 Fortress A FFA Interim Dividend 64.72 ZARc Monday 14 March 2016 Fortress B FFB Interim Dividend 62.81 ZARc Tuesday 29 March 2016 Argent ART Interim Dividend 9.00 ZARc
PSG MM Income FoF B PSG MM Cautious FoF B PSG MM Balanced FoF B PSG MM Equity FoF B PSG MM Foreign Flex FoF B PSG Money Market A PSG Income PSG Diversified Income PSG Stable PSG Balanced A PSG Flexible PSG Equity A PSG Global Flexible FF A PSG Global Equity FF Local funds Performance data on local funds* is shown up to the last market close. PSG Multi Management PSG MM Income FoF B 3.05 6.57 7.70 6.99 7.51 7.38 PSG MM Cautious FoF B 3.13 4.65 7.99 9.77 10.61 - PSG MM Balanced FoF B 2.87 1.38 7.23 11.23 - - PSG MM Equity FoF B -2.63-10.02 1.33 8.94 11.35 11.03 PSG MM Foreign Flex FoF B 9.77 16.91 12.53 21.16 22.47 - PSG Asset Management PSG Money Market A 3.28 6.51 6.25 5.84 5.69 5.64 PSG Income 3.38 6.63 6.72 6.06 5.83 - PSG Diversified Income 3.88 7.23 7.13 7.27 7.77 7.47 PSG Stable 2.83 4.13 6.31 8.38 9.55 - PSG Balanced A 1.37-0.28 6.14 11.44 12.49 11.91 PSG Flexible 0.98-0.03 6.42 13.61 13.92 13.54 PSG Equity A -4.90-12.92-0.22 10.84 13.80 13.09 PSG Global Flexible FF A 5.63 10.53 9.81 - - - PSG Global Equity FF 3.15 4.42 6.51 17.24 18.16 - PSG Multi-Management Funds: 1 Year Move 20.00 15.00 16.91 PSG Asset Management funds: 1 Year Move 15.00 10.00 10.00 5.00-6.57 4.65 1.38 5.00 - -5.00-5.00-10.00-15.00-10.02-10.00-15.00 Offshore funds Performance data on offshore funds* is shown up to the last market close minus 1 day PSG Multi-Management PSG MM Foreign Flex FoF B -5.58-12.28-6.21-0.77 1.16 1.17 PSG Asset Management ($) PSG Global Flexible USD A -7.69-18.54-8.00-1.82 - - PSG Global Equity USD -8.92-22.67-10.34-2.28-0.24-1.15
Sector focus JSE FINDI 30 Index The JSE FINDI 30 Index added 0.45% on Thursday and remains within a narrow down channel, while also testing a key support level. The index price is still trading below its 50 & 200 day moving averages and the long term trend remains bearish, while the medium term trend is neutral as it is moving sideways within a trading range. The Stochastic and RSI indicators are trading in the neutral zone with a slight upward bias to suggest a move higher. A bullish candlestick body was formed yesterday because the index price closed higher than it opened. During the past 10 days, there have been four bullish candles and six bearish candles for a net of two bearish candles. During the past 50 days, there have been 25 bullish candles and 25 bearish candles.
Trade Spotlight: CFD & SSF Sappi (SAP) The share price of Sappi gained 1.66% on Thursday, having recently bounced off a support trend line, as well as the 50% Fibonacci retracement level. The share price is trading below its 50 day moving average but above its 200 day moving average and the long term trend remains bullish. We expect the share price to breakout above the upper resistance trend of a down channel soon. Both the Stochastic and RSI indicators trading at oversold levels to suggest a rally soon. The information in this document is to the best of our knowledge correct at the time of distribution but due to the nature thereof cannot be guaranteed. This document only contains general information and not the opinion of the distributor. Affiliates of the PSG Konsult Group are authorised financial services providers.