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Week in Review: Coronavirus Death Toll Rises
Countries around the world are stepping up efforts to tackle the threat of the spread of coronavirus. The latest figures brought the total number of deaths in China to at least 722 with the total number of confirmed cases rising to 34,000. Most of the newly reported deaths, 81, occurred in Hubei Province, the heart…
Read MoreDeath, Tax and more Tax
Unfortunately for South Africans, after death and taxes a third certainty affecting us is our ever-increasing tax rates. With the budget speech around the corner, tax increases are again front of mind. It is no wonder then that our investment decisions are so often driven by an overwhelming desire to save taxes. Enter Section 12J…
Read MoreWeek in Review: Coronavirus Fears Escalate
Growing concerns about the economic impact of the coronavirus dominated headlines this week. Global equity markets and cyclical sectors underperformed whilst bonds rallied. As the outbreak continues to escalate, the World Health Organization has declared it a public-health emergency of international concern, but said restrictions on commerce weren’t necessary and that it had confidence in…
Read MoreWeek in Review: Coronavirus Spreads
A new respiratory virus first detected in the Chinese city of Wuhan has infected hundreds of Chinese citizens and claimed a number of lives. Just three of the 41 deaths reported over all have taken place outside of Wuhan. Nationwide, more than 400 new cases of the virus were diagnosed, officials said early Saturday, bringing…
Read MoreWeek in Review: SARB Surprises with Rate Cut
The combination of better-than-expected economic data, encouraging corporate earnings from U.S. banks, and the signing of the “phase-one” trade agreement between the U.S. and China helped push global equities higher this week, with U.S. stocks reaching new record highs. The long-awaited “phase-one” trade agreement between the U.S. and China was formally signed this week, largely…
Read MoreWeek in Review: Middle East Tensions Ease
Brent Crude oil prices slipped further towards $65 a barrel on Friday as tensions in the Middle East eased and investors focused on rising U.S. inventories and other signs of ample supply. Brent is now below where it was before the U.S. drone strike that killed Iranian general Qassem Soleimani on January 3rd. The U.S.…
Read MoreWeek in Review: Geopolitical Tensions Rise after U.S. Airstrike Kills Top Iranian General
Global equities took a slight breather during the shortened trading week, after a sharp rally at year-end and new record highs for all three major U.S. Indexes – Dow, NASDAQ and the S&P 500 on the first trading day of the year. Concerns over rising tensions between the U.S. and Iran emerged on Friday following…
Read MoreWeek in Review: Returns of the Decade
Stocks rose in the final week of 2019, with several major indexes hitting fresh record highs. Trade optimism helped stocks move on to new highs in a week of quiet trading surrounding the Christmas holiday. The technology-heavy Nasdaq Composite Index outperformed and crossed the symbolic 9,000 mark for the first time. President Donald Trump told…
Read MoreWeek in Review: “No ifs, No buts”
Global stocks rallied over the week as some uncertainty was lifted around three issues that dominated the market narrative for most of 2019: trade, Brexit and Fed policy. Prime Minister Boris Johnson has won a decisive majority in the UK general election held this week. Labour leader Jeremy Corbyn announced that he would be stepping…
Read MoreWeek in Review: SAA Placed Under Business Rescue
It was an eventful week on the South African calendar with SAA announcing that it will be placed under business rescue as well as the South African 3rd quarter GDP announcement. Minister of Public Enterprises, Pravin Gordhan announced on Thursday that South African Airways (SAA) will be placed under business rescue, stating that the decision…
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