18/12/2020 Asian stock markets mixed on Friday as U.S. lawmakers continued to debate over a federal-spending deal in Washington. The S&P 500 climbed to close at an all-time high as stimulus hopes buoyed the market mood, with nine of 11 main S&P 500 sectors closing higher. Shares dipped in Hong Kong, Australia and Japan; edged marginally up in China. Gold was down on Friday morning but was headed towards a third consecutive week of gains. Gold futures were down 0.21% at $1,884.74. Oil eased on Friday, U.S. WTI crude futures slipped 0.21%, to $48.26 a barrel, while Brent crude futures fell 0.35% to $51.37 a barrel.
The JSE closed 1.79% firmer to 60,544 – past the 60,000 mark – and the Top-40 rose 1.87% on Thursday, the last futures close-out of the year. About ± R42bn went through the 15min close-out period, with the daily vol staggering at R56bn by the end of the day. The All-Share has gained 6.06% YTD, with the Top-40 returning 9.19% YTD. This morning our market is looking to take cue from Asia, with IG markets indicating Top-40 futures down -160 points. Today we have the rebalancing.
EQUITY & BOND PREVIEW:
• (MTM SJ): South African Insurer Guardrisk Loses Virus-Claims Appeal
• Laggard South African Bonds May Get Seasonal Boost at Year-End
• Eskom Bailout Emerging as Equity Swap by Biggest Bondholder
ECONOMIC DATA (All times Central African Time):
• 10am: (SA) Bloomberg Dec. South Africa Economic Survey
• South Africa’s ruling party, the African National Congress, to hold briefing on its 109th anniversary celebrations due to be held in January
European equities extended an advance to a fourth day, on hopes for a stimulus deal in the U.S. and as Brexit trade talks approach the final stretch. The European Stoxx 600 index finished up 0.35%, with Germany’s DAX climbing 0.75%, CAC-40 marginally up 0.03%, while the FTSE100 slipped 0.30%.U.K. Prime Minister Boris Johnson said trade talks with the European Union are in a “serious situation,” warning that a deal will be impossible unless the bloc softens its demands over fisheries.
Wall Street ended regular session at record highs:- Dow +148 points or 0.49%, S&P500 0.58%, Nasdaq 0.84%. On Friday stock futures are ticking down slightly after indices rose to records levels: – Dow futures -119 points or -0.39%, S&P500 futures -0.31%, Nasdaq – 0.29%.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3% from Thursday’s record. The Nikkei in Tokyo lost 0.31% while the Shanghai Composite Index gave up 0.55%. The Hang Seng HIS slipped 1.00%, with Tencent on the backfoot 1.11% in Hong Kong. Sydney’s ASX 200 .