Sanlam Private Wealth Morning Digest 14 December 2018

Local Markets

Local markets ended higher for the third consecutive day on Thursday, supported by improved global sentiment. The JSE All Share added 0.28% by the close to settle at 51,744.2 index points, while the Top 40 gained 0.08%. The gold mining index added 1.98% to feature among the region’s top performers, with Sibanye-Stillwater surging 4.96% after it confirmed earlier in the session that it had extended a recent wage agreement to all its employees. The resource index also performed well, with Anglo American adding 2.64%, while Exxaro jumped 7.08%. On the downside, the industrial index ended marginally lower as Naspers lost 1.3%.

American Markets

On Thursday, Wall Street ended mostly lower, with the exception of the Dow Jones, as investors continued to worry about a lack of clarity and progress in the trade talks between China and the US. In addition, investors were cautious after US President Donald Trump once again criticised the US Federal Reserve over its attempts to normalise monetary policy. The NASDAQ led the declines, down 0.39%, with Amazon dropping 0.31% after it announced that Whole Foods would be severing ties with delivery service Instacart. Meanwhile, the S&P 500 lost 0.02% to end marginally lower, while the Dow Jones bucked the trend to add 0.29%.