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Market Commentary
Market Commentary for Tuesday 15 January 2019

Our local bourse started the trading session firmer by 0.37% on Tuesday as China announced plans to boost the country’s slowing economy, including tax cuts & an increase in spending. A day of mixed trade saw the all share reverse those early gains before staging a late rally to ensure that our market finished the day up by 0.09% at the close. The best performer for the day was the Property sector, appreciating 1.33% by market close. Leading the upside were Growthpoint Properties and Nepi Rockcastle, climbing by 2.11% and 1.72% respectively. Our Gold Mining sector bucked the trend and finished 2.27% lower, driven largely by Sibanye Gold which closed the day 4.9% softer. It was a quiet day on the company front. On the Economic front, The German economy grew by 1.5% in 2018, following a 2.2% expansion in 2017 and matching market expectations, a preliminary estimate showed. Mining production in South Africa fell 5.6% year-on-year in November 2018, following a downwardly revised 0.2% gain in the previous month and well below market expectations of a 0.75% rise. The Euro Area trade surplus narrowed to EUR 19.0 billion in November 2018 from EUR 23.4 billion in the same month of the previous year, still comfortably above market expectations of EUR 13.7 billion. The New York Empire State Manufacturing Index in the United States reduced by 7.6 points from the previous month to 3.9 in January of 2019 and below market expectations of 10.75. Producer Prices in the United States increased 2.50% in December of 2018 over the same month in the previous year. Redbook Index in the United States increased by 6.70% in the week ending January 12 of 2019 over the same week in the previous year. Total value traded for the day was R12.8 bn.

Market Commentary
The Day Ahead for Wednesday 16 January 2019

Wall Street ended the day in positive territory on Tuesday with the Dow Jones Industrial Average and the S&P500 gaining 0.65% and 1.07% respectively, largely due to a rally in tech equities and reports of further stimulus measures from China. Eastern markets are trading in negative territory this morning with the Nikkei and the Hang Seng index currently lower by 0.67% and 0.21% respectively. Tencent is trading in the red by 0.48% whilst BHP Billiton has lost 0.60% this morning. The Australian ASX is trading stronger by 0.27% thus far. Traders can expect a negative start to trading on our local bourse this morning.

News Articles
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Fin24.com | Mantashe announces independent survey on mining in Xolobeni
1/16/2019 8:32:04 PM

Mantashe visited the Eastern Cape community and its natural dunes on Wednesday accompanied by a delegation from the Department of Mineral Resources and what has been described as heavy police presence.

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Fin24.com | Russian Diamond giant Alrosa is going back to Zimbabwe
1/16/2019 8:23:01 PM

Alrosa PJSC, one of the world’s top diamond miners, is returning to Zimbabwe after a more than two-year break.

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Fin24.com | Western Cape watching Brexit implications on trade, investment and tourism
1/16/2019 7:29:44 PM

Amid continued uncertainties related to Brexit, the Western Cape's tourism, trade and investment promotion agency is keeping a close watch on the implications for companies.

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Fin24.com | Trade conditions moderate but strained - Sacci
1/16/2019 7:29:43 PM

Trade improved slightly if adjusted for seasonal factors, yet six-month prospects remain muted, says the SA Chamber of Commerce and Industry.

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Fin24.com | SPECIAL REPORT Are we being overcharged for data? How SA stacks up against 9 peer countries
1/16/2019 6:31:53 PM

Why is data in South Africa so expensive? Why does it 'expire'? And is there anything that anyone can do about it? Fin24 unpacks the issues in the third report in this four-part series published daily on the cost of data in SA.

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Fin24.com | NUM march to Union Buildings for Optimum coal miners stuck in limbo
1/16/2019 5:28:26 PM

The National Union of Mineworkers marched to the Union Buildings on Wednesday, asking government to ensure the mineworkers at Optimum receive salaries after they were left stranded by Tegeta’s fall into business rescue.

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Fin24.com | Maiden Mboweni budget confirmed for Feb 20
1/16/2019 3:52:26 PM

Treasury has confirmed Finance Minister Tito Mboweni will table his maiden Budget in Parliament on February 20 at 2pm.

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Fin24.com | Saudi minister 'very optimistic' about oil market
1/16/2019 2:30:05 PM

Saudi Energy Minister Khalid al-Falih says he was "very optimistic" about the outlook for the oil market after producers cut output to support flagging prices.

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Fin24.com | Brexit uncertainty: What next for SA?
1/16/2019 2:10:44 PM

Several scenarios face South Africa amid uncertainty over Britain leaving the European Union, says Trade and Industry Minister Rob Davies, which could affect both trade and SA companies operating in the UK.

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Fin24.com | UK inflation poised to hit BoE target as fuel prices tumble
1/16/2019 2:00:35 PM

UK inflation has fallen to its lowest rate in almost two years in December as the cost of filling up a vehicle plunged.

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Fin24.com | China moon mission's next task: Getting samples back to earth
1/16/2019 1:23:21 PM

After becoming the first country in the world to land a spacecraft on the far side of the moon, China is planning four more missions to get samples back before studying the feasibility of a lunar research base.

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Fin24.com | Alexander Forbes CEO says 2 more executives resign amid exodus
1/16/2019 1:15:50 PM

Alexander Forbes CEO of corporate and employee benefits Tony Powis and head of retail financial services Sugendhree Redd will leave by the end of this month, Alexander Forbes’ new chief, Dawie de Villiers, said in an interview in Johannesburg on Wednesday.

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Fin24.com | Tribunal to hear final arguments in fire protection 'cartel' case
1/16/2019 11:52:37 AM

The Competition Tribunal is set to hear closing arguments in the matter of three fire protection companies, accused of cartel conduct involving tenders.

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Fin24.com | VW, Ford join to make vans and explore work on electric cars
1/16/2019 10:55:07 AM

Volkswagen and Ford will join forces to build pickup trucks, delivery vans and possibly more, pledging to put old rivalries aside and work together to confront a rapidly changing auto industry.

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Fin24.com | Ramaphosa says independence of the Reserve Bank is 'sacrosanct'
1/16/2019 9:24:56 AM

The president, addressing business leaders ahead of the World Economic Forum in Davos, has said there is no intention to interfere with the independence of the central bank.

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Fin24.com | Maimane: Break down Ramaphosa's Trump-style wall of economic exclusion
1/16/2019 7:36:53 AM

DA leader Mmusi Maimane said there was no difference between President Cyril Ramaphosa and Jacob Zuma, as both promised economic transformation which only led to wealth for the politically connected few.

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Fin24.com | NUM challenges government to save jobs at Optimum mine - even if that means buying it
1/16/2019 7:33:25 AM

The National Union of Mineworkers says mineworkers at Optimum and Koornfontein Colliery Mines in Mpumalanga have not received their salaries in three months.

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Fin24.com | MONEY CLINIC: How can I manage my home loan?
1/16/2019 6:00:48 AM

Have a money problem that needs solving? Fin24 can help! This month our focus is on debt. Send your question to editor@fin24.com or find the Money Clinic box on the right of our homepage.

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Fin24.com | Crushing defeat for Theresa May in Brexit deal vote
1/15/2019 10:48:24 PM

British Prime Minister Theresa May faced a crushing defeat in a historic vote over the Brexit deal she struck with the European Union, leaving the world's fifth biggest economy in limbo.

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Fin24.com | May faces fresh no confidence vote after humiliating Brexit vote defeat
1/15/2019 10:47:06 PM

Prime Minister Theresa May’s Brexit deal is rejected by Parliament in a humiliating defeat

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SAP
Heads Up: Sappi FY18 Results review
1/9/2019

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BAT
Heads Up: Brait 1H19 Results - Disappointing, but portfolio optimisation could unlock value
1/9/2019

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SAP
Heads Up: Sappi FY18 Results review
1/9/2019

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PFG
Heads up: Pioneer Foods FY18 Results - Recovery Derailed by Tougher H2
12/12/2018

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NPK
Heads up: Nampak FY18 Results Review
12/6/2018

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VOD
Heads up: Vodacom Limited - 1H19 Results for the six months ended 30 September 2018
12/5/2018

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QFH
Heads up: Quantum Foods FY18 Results - Strong, but unsustainable
12/5/2018

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TBS
Heads up: Tigerbrands FY18 Results - 2H18 Collapse
12/3/2018

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LHC
Heads up: Life Healthcare FY18 results review
11/26/2018

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CML
Heads up: Coronation FY18 results Review
11/26/2018

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Charts Indices Currencies Metals & Brent Oil Gainers & Losers
CHARTS
International Indices
Name Value Move
DJ Ind.  24,174.98   109.39  0.5%
DJ Trans  9,673.96   116.26  1.2%
NASDAQ  7,023.83   117.91  1.7%
NYSE S and P500 INDEX  2,617.54   7.24  0.3%
FTSE 100  6,860.90   -34.12  -0.5%
XETRA DAX INDEX  6,271.85   -81.89  -1.3%
DAX INDEX  10,922.96   31.17  0.3%
HONG KONG HANG SENG INDEX  26,902.10   71.81  0.3%
NIKKEI 225 INDEX  20,442.75   -112.54  -0.5%
Major JSE Indices*
Name Value Move
OVERALL  53787   253.20  0.5%
TOP 40  47665   282.74  0.6%
ALL GOLD  1321   -24.40  -1.8%
INDUSTRIAL  65405   786.76  1.2%
FINANCIAL  17125   188.47  1.1%
RESOURCES  40456   -515.72  -1.3%
Delay = 15 minutes
Currencies
Name Value Move
ZAR/ / AUD  9.86   -0.01 -0.1%
ZAR/ / CHF  13.87   -0.06 -0.5%
USD/ / EUR  1.14   0.00 0.1%
ZAR/ / EUR  15.65   0.00 0.0%
USD/ / GB  1.29   0.00 0.0%
ZAR/ / GBP  17.68   -0.03 -0.2%
YEN/ / ZAR  7.92   -0.01 -0.1%
JPY/ / USD  108.74   0.03 0.0%
ZAR/ / USD  13.74   0.00 0.0%
Precious Metals & Brent Oil
Name Value Move
Brent Oil  60.69   0.14 0.2%
Palladium  1,317.55   36.70 2.9%
Platinum  807.00   4.95 0.6%
Silver  15.65   0.04 0.2%
Gold  1,293.69   4.31 0.3%
Top 5 Gainers -- Delayed
Accentuate Limited  41.0
SABLE PLATINUM LTD  31.9
Aveng Group Limited  25.0
Micromega Holdings Ltd  15.6
Sekunjalo Inv Ltd  13.0
Top 5 Losers -- Delayed
Forbes & Manhatt Coal  -16.7
Quantum Foods Hldgs Lt  -15.8
Orion Minerals Limited  -15.2
Coal of Africa Ltd  -14.3
Sea Harvest Group Ltd  -13.0

PRICES (15 minute delay)

Steinhoff Int Hldgs Lt : SHF 8100  -119 | Santam Limited : SNT 30759  629 | Ellies Holdings Ltd : ELI 20  1 | Hosken Cons Inv Ltd : HCI 12026  -248 | FTSE/JSE SHARIAH TOP 4 : STOP 2937  59 |

SENS (15 minute delay)

| RDFC45 : Interest Rate Reset ? RDFC45| ELI : Extension of contract of interim chief financial officer| ELI : Change to the board of directors| NPN : Unbundling of Multichoice Group Limited Shares to Naspers Shareholders and Listin| ZA098 : ZA098-Redemption and Payment Amount| IDQ : Results of Annual General Meeting| SGL : Strike update ? AMCU refuses to co-operate with the verification process| CHP : Renewal of cautionary announcement| PFB : Clarification Announcement: Change In AGM Address| NT1 : Net 1 UEPS Technologies, Inc. to host conference call to review second quarter 20| DBNPAV : DBNPAV Redemption Amount and Payment Date| DBNPAU : DBNPAU Redemption Amount and Payment Date| DBNPAT : DBNPAT Redemption Amount and Payment Date| DBNPAS : DBNPAS Redemption Amount and Payment Date| HWN : Acquisition Of Securities| ART : General Repurchase of Ordinary Shares| TSX : Notification of change in auditor| IVA887 : IVA887 - Listing of New Financial Instrument| ITU : TR-1: Standard form for notification of major holdings| STXPRO : Distribution Finalisation Announcement Quarter End 31 December 2018 - STXPRO| AMIB50 : Listing Of Additional Securities - AMIBIG50| STXSWX : Distribution Finalisation Announcement Quarter End 31 December 2018 - STXSWX| STXDIV : Distribution Finalisation Announcement Quarter End 31 December 2018| STXFIN : Distribution Finalisation Announcement Quarter End 31 December 2018| STXRES : Distribution Finalisation Announcement Quarter End 31 December 2018 - STXRES| STXQUA : Distribution Finalisation Announcement Quarter End 31 December 2018| STXIND : Distribution Finalisation Announcement Quarter End 31 December 2018| STX40 : Distribution Finalisation Announcement Quarter End 31 December 2018| STXMMT : Distribution Finalisation Announcement Quarter End 31 December 2018 - STXMMT| GIVIND : GIVIND - Incorrect Closing Prices as at 14 January 2019| GIVISA : GIVISA - Incorrect Closing Prices as at 14 January 2019| GLN : GLN: Transactions In Own Shares-15 January 2019| CGR32 : Interest payment notification - CGR32| STAN40 : Listing Of Additional STANLIB40 Securities| ORN : First Assays from Ayoba Satellite VMS Discovery and Preliminary Airborne EM Data,| ILE : Renewal of cautionary announcement| NGPLT : NGPLT/ NGNPLT - Listing of additional NewGold Platinum Debentures| STXPRO : Listing Of Satrix Property Securities - STXPRO| STXIND : Partial Delisting Of STXIND Securities - STXIND| JSE : [06:31:00]: Start of Day. Group <1> - Please wait, downloading details