Maseru Securities Market

Market Status: Closed

Global Market Review

 

WEEKLY MARKET COMMENTARY: EQUITIES

18/11/2021


United States

  • Major US stock indexes have wavered this week as earnings rolled in and concerns about consumer-price rises continued. Third quarter earnings were generally strong but some major companies such as Target were hit hard by supply-chain snarls and rising costs. Nasdaq, S&P 500 and Dow Jones Industrial Average were at 15921.57, 4688.67 and 35931.05 respectively on Thursday market open.
  • On the economics, fresh data showed that housing starts declined 0.7 percent in October from September. Home builders are contending with increasing material costs and labor shortages, which are driving up home prices. Meanwhile jobless claims data showed a smaller-than-forecast drop.
  • On politics, China agreed to releasing some of its oil strategic reserves after Washington invited Beijing to a joint sale, a move suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs.

Europe

  • European stocks edged lower after six days of gains as a jump in Covid-19 cases kept risk appetite muted, and falling commodities on sectors. Stocks remain near historically high levels following a robust earnings season that reassured investors in the strength of the economy. However, inflation, the pandemic and supply constraints are making investors more cautious about the outlook for risk assets. FTSE100, DAX CAC 40 and Stoxx 600 were trading at 7269.52, 16231.66, 7148.81 and 488.58 respectively towards trading close on Thursday.

South Africa

  • Top SA stock indexes were mixed on Thursday with all share and resources index falling while financials gained after banks stocks climb following SARB increased its key lending rate. Allshare, resources and financial indexes closed at 70813.26, 37155.37 and 36391.02 respectively on Thursday.
  • Foreigners sold a net 0.53 billion rand worth of SA stocks.

 Data source: Bloomberg

 

 

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