14/12/2020 The JSE gained despite a fall in most global bourses on Friday as investors weighed the prospects of positive vaccine news against a lack of progress in US stimulus talks and Brexit negotiations. The all share gained 0.22% and the top 40 0.23%, with banks, financials and industrials all up on the day. Capitec leading the way + 8.12% and MTN at the bottom of the pile – 10.30 % after Nigerian regulators ordered the suspension of all MTN and Airtel Sim card sales.
Chinese regulators fined Alibaba Group Holding Ltd. and a Tencent Holdings Ltd. unit 500,000 yuan ($76,500) each over failing to declare past acquisitions under the country’s anti-monopoly laws. Tencent down 2.81%
• Ramaphosa to address the nation on Covid-19 ahead of the festive season tonight.
• BTI, South African Court Rules State Cigarette Ban Unconstitutional.
• CPI, Jumps Most in Six Months to Lead S. African Bank Gains.
• DGH, South Africa’s Drinks Makers Move to Fend Off Third Booze Ban.
• ANH AB InBev Told by South Africa Court to Change Fruit Beer Ads.
• ABB to Repay South Africa’s Eskom $103 Million After Probe
ECONOMIC DATA ;
10am: (SA) 4Q BER Consumer Confidence, prior -23
European markets closed lower Friday as investors monitored stalling U.S. fiscal stimulus talks and the rapidly approaching deadline for Brexit negotiations. The pan-European Stoxx 600 closed down 0.7%, with telecoms shedding 2.9% to lead losses as almost all sectors and major bourses slid into negative territory. DAX – 1.36%, CAC -0.76%, FTSE -0.80%. Futures are mixed this morning with the DAX up and CAC and FTSE lower.
Last week in US, stocks experienced their first down week in several as legislators continued a standoff surrounding a Covid-19 aid package. The Dow rose 47 points, the S&P lost 4.61 points and the Nasdaq lost 0.23%. On the week the S&P 500 fell nearly 1%, for its first negative week in three. The Dow shed 0.57% for its first negative week in three and the Nasdaq lost nearly 0.7% for its first negative week in four. The first deliveries of the Pfizer Inc.-BioNTech SE vaccine in the U.S. due to arrive Monday morning. Meantime, a bipartisan group of lawmakers will unveil a $908 billion pandemic relief bill the same day, although there is “no guarantee” Congress will pass it. US Futures are firmer, the Dow + 161 points, S&P + 16 points and the Nasdaq + 38 points.
Stocks in Asia-Pacific are mixed as investors in the region react to the approval of Pfizer’s Covid-19 vaccine. In Japan, the Nikkei 225 gained 0.52% while the Topix index rose 0.92%. The Bank of Japan’s quarterly tankan survey showed on Monday business sentiment in Japan improving in the three months to December. The headline index for big manufacturers’ sentiment improved to minus 10 as compared with minus 27 in September. A median market forecast had expected the figure to come in at minus 15, according to Reuters. China mainland trades higher but the Hand Seng is lower by 0.34% with Tencent – 2.81%. the Aussie ASX 200 is up 0.28%.
Oil prices have rallied for six consecutive weeks, their longest stretch of gains since June. The OPEC+ joint ministerial monitoring committee (JMMC) that monitors compliance among members will meet on Dec. 16, while OPEC+ will meet on Jan. 4 to study the market after their last decision to limit production rises to 500,000 barrels per day starting next year. Brent + 0.64%, $ 50.29, WTI + 0.58%, $ 46.85.
Gold slips in early trade as the rollout of a Covid-19 vaccine lifted riskier assets, overshadowing expectations of more U.S. fiscal and monetary stimulus. Gold spot – 0.28% $ 1834, Silver rose 0.2% to $23.97 an ounce, while platinum gained 0.8% to $1,017.34 and palladium gained 0.4% to $2,328.74.