Streaming issues? Report here
Kieno Kammies 2019 1500 BW Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Lester Kiewit
See full line-up
Today with Kieno Kammies
09:00 - 12:00
Home
arrow_forward
Business

Market Commentary

1 July 2020 9:18 PM
Tags:
market coomentary
Chris Steward

Chris Steward, portfolio manager at Ninety One, says the PMI number in particular is looking a little better.

Chris Steward, Portfolio Manager - Ninety One, gives his take on how the market performed on Wednesday.

He is of the opinion that the numbers are less horrible than anticipated and the Purchasing Managers' Index (PMI) number particularly is looking a little better.

We did see a strong rand today and a little bit of that, I guess, is emerging markets currency strength but some of it is certainly rand idiosyncratic as well.

Chris Steward, Portfolio Manager - Ninety One

If I can recall some of today's microdata that came less than anticipated, that continues the trend of yesterday's -2% GDP number, also less than anticipated. The numbers are less horrible than anticipated and the PMI number particularly looking a little better.

Chris Steward, Portfolio Manager - Ninety One

We are bouncing off incredibly depressed levels and once we start lapping more normalised numbers and ostensible bullishness in the economy starts to wind its way out, and I expect very much that is the case, we'll play catch-up for a couple of very dire months and we're gonna see normal service resume fairly shortly thereafter.

Chris Steward, Portfolio Manager - Ninety One

Steward says vehicle sales bounced at -30,7% year on year but better than the previous month.

Listen below for the full conversation ...


This article first appeared on 702 : Market Commentary


1 July 2020 9:18 PM
Tags:
market coomentary
Chris Steward

More from Business

scz-0623jpg

Bantu Holomisa has an idea to remove ANC 'thieves' from power before 2024

6 August 2020 9:36 AM

"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.

Share this:
Read More arrow_forward

afrika-tikkunjpg

SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO

5 August 2020 8:54 PM

Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.

Share this:
Read More arrow_forward

car insurance short-term cover 123rfbusiness 123rflifestyle 123rf

Why it's a bad idea to ditch or downgrade your car insurance to save on costs

5 August 2020 8:21 PM

Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.

Share this:
Read More arrow_forward

liberty-ceo-david-munrojpg

Liberty reports R2.2b loss amid pandemic, but 'capital ratio remains strong'

5 August 2020 7:53 PM

Liberty's David Munro tells The Money Show its R3b pandemic reserve shows the insurer 'truly living out its purpose'.

Share this:
Read More arrow_forward

Crisis just ahead dark clouds thunderstorm 123rf 123rfbusiness

A warning for the future, we do not think enough about our actions

5 August 2020 7:15 PM

Despite being one of the few animals that think about the future, we don’t think far enough

Share this:
Read More arrow_forward

up-3765609-1920jpg

JSE closes at highest level for 2020 with surge in demand (mid-pandemic!)

5 August 2020 6:49 PM

The Money Show's Bruce Whitfield interviews Johannesburg Stock Exchange boss, Leila Fourie.

Share this:
Read More arrow_forward

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

premier-alan-winde-wearing-face-maskjpg

Premier Winde grilled about why consortium got big share of WC govt's PPE tender

5 August 2020 1:12 PM

Western Cape Premier Alan Winde has denied any suggestions that the provincial government awards its PPE contracts to suppliers with "access to power".

Share this:
Read More arrow_forward

Samsung  Galaxy S6 Edge smartphone 123rf 123rfbusiness

Get cash for your old Samsung, iPhone. Flip Phone collects, pays out instantly

5 August 2020 11:59 AM

You can also buy inexpensive, certified pre-owned phones. Kieno Kammies talks to Flip Phone founder Conor Copas.

Share this:
Read More arrow_forward

absajpg

Absa wins international award for its response to Covid-19

5 August 2020 11:38 AM

The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.

Share this:
Read More arrow_forward