A relatively quite day as the US Wall Street markets were closed for Independence Day on Friday

06/07/2020 The JSE/All-share closed flat -0.17% to 54,521.9 points and the Top 40 -0.26% on a relatively quite day as the US Wall Street markets were closed for Independence Day on Friday. Banks and financials fell 1.22% and 0.18% respectively. The rand is nicely firm 0.55% at R16.9470 to the dollar this morning; the local currency gained 1.93% for the week as some positive economic data offset concern over the increasing number of Covid-19 cases. Yield on 10 year govt rand bonds rose 17 bps to 9.424%.Gauteng Health MEC, Bandile Masuku, urges hard lockdown to curb Covid-19 infections in the province. Covid-19 infections have risen to 196,750 in SA.
• (CPI SJ): Capitec Warns of 70% Profit Drop After Impairment Charges Jump
• (SNH GR): Steinhoff Is Close to Settling $11 Billion of Legal Claims
• (OMU SJ): Banks Pare the Best Week Since Early June
• (RBP SJ): Royal Bafokeng Platinum Raised to Hold at Renaissance Capital
• (NRP SJ): NEPI, PARTIES SIGN MOU OVER SALE OF ROMANIAN OFFICE PORTFOLIO
• Tobacco ban has cost SA R3.5bn in excise taxes, companies tell Ramaphosa
• S&P UNCLEAR ON HOW S. AFRICA WILL DELIVER ON SPENDING CUTS: BD

GOLD +0.08% @ $1773.11, PLATINUM +0.08% @ $816.17, BRENT +0.80% @ $43.15,

Looks like we headed for a positive start this morning with the IG futures firmly up 418 points.
ECONOMIC WEEK AHEAD: 07/07/20 BER Consumer Confidence 2Q, 09/07/20 Manufacturing Prod Sa MoM/YoY

EU/UK
European markets stayed below the waterline on Friday, giving back the previous session’s gains as volatility and volumes were set to be low for the rest of the session as U.S markets closed for Independence Day on Friday. The FTSE 100 closed down 1.33%, alongside a 0.64% dip on the German Dax to, while the Cac-40 was off by 0.84%. UK markets are likely to open firmer with the IG futures having the FTSE up 91 points and the Dax 277 points firmer. *GERMAN MAY FACTORY ORDERS RISE 10.4% M/M; EST 15.4%

U.S.
Wal Street was closed for a holiday on Friday. Covid-19 cases rise 2.1% in the U.S, with Florida registering 10,000 new cases – a spike that exceeded the single-day tally of every European nation at the height of the pandemic, while across the US as a whole the number of cases surpassed the 50,000 mark for the first time. U.S. stock index futures steadily gained late Sunday, ahead of Wall Street’s return from a three-day holiday weekend. Dow futures were up around 350 points, or 1.4%, while S&P 500 futures rose 36 points, or 1.2%.

ASIA
Asian stock markets rose Monday as investors looked ahead for data they hope will support optimism about a global economic recovery. Nikkei 225 rose 1.69 and Hong Kong’s Hang Seng Index gained 3.11%. The Shanghai Composite surged 5.23, while Australia’s ASX 200 fell .42%. This week, market participants are looking ahead to interest rate decisions in Australia and Malaysia. The Reserve Bank of Australia is expected to keep its benchmark rate at a record low of 0.25%. Markets also are watching an election in Singapore and possible unrest in Hong Kong over a security law. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.43%.