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September Market Economic Update

News from local and global markets.
  • The JSE All Share Index was relatively flat in September and only gained 0.2%.
  • The best-performing section was the financial sector, which saw a gain of 3.5%. Resources and industrials were the losers for the month, down 0.5% and 0.9% respectively.
  • The South African Reserve Bank opted to keep interest rates unchanged.
  • Most of the international indices were positive for the month. The Nikkei 225 showed the biggest gain of 5.8%, followed by the Euro Stoxx 50 which was up 4.3%.
  • The ECB cut its interest rates to negative 0.5% and hinted that it will start buying debt from November.
  • The US Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year.
  • In mid-September an oil refinery in Saudi Arabia was attacked by drones, which had a negative impact on the oil price.
  • The US House of Representatives announced that it will begin the process of impeachment against President Donald Trump.
  • Despite ongoing trade wars, Brexit and Middle East tensions, the outlook for global growth is looking positive.

ADVISOR PROFILE

Michael Haldane

Global & Local Investment Advisors

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