Sanlam Private Wealth Morning Digest Monday 26 June 2017

US headlines

Wall Street ended mostly higher on Friday, with the exception of the Dow Jones, helped along by a rebound in energy shares. The NASDAQ led the region's gains, with the index adding 0.46%, or 28.56 points, to close at 6,265.26 index points. As a result, the index extended its gains for the week to 1.8%, sharply outperforming the other two major indices. Meanwhile, the S&P 500 gained 0.16% to settle at 2,438.30 index points, supported by a 0.7% uptick in the S&P technology sector and a 0.8% increase in the S&P energy sector. Lastly, the Dow Jones shed 0.01% in what turned out to be a choppy session of trade.

Local headlines:

Local markets ended the week off on a high note on Friday, boosted by a rally in Naspers after it released its latest results. In what turned out to be a fairly quiet session of trade, the JSE All Share index rose 0.84% to close at 51,503.50 index points. In addition, the Top 40 index added 0.92%, with the index extending its gains for the week to 1.9%. Financial shares erased some of its recent losses, with the banking index ending 1.25% higher, followed by a 1.22% increase in the financial index. Lastly, the industrial index gained 1.09%, despite a stronger rand, with Naspers surging 2.6% during the session.