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The FTSE/JSE All Share Index fell on Tuesday, as local investors waited to see how Finance Minister, Enoch Godongwana would allocate spending in his budget speech later today. He is expected to reveal clues about the government's fiscal trajectory and proposals to aid Eskom. Read what else happened in markets yesterday:

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The rand firmed to below R18 to the US dollar after Finance Minister Enoch Godongwana outlined how the government’s fiscal and debt outlook improved since the national budget statement in February 2022.

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Eyes will be on Finance Minister Enoch Godongwana this afternoon as he delivers the Medium-Term Budget Policy Statement (MTBPS) at a time of extreme pressure on the government to ensure fiscal consolidation, effective state-owned enterprises and local service delivery, as well as fighting corruption within its ranks.

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Global markets ended the week mixed after a Wall Street Journal report stated that the US Federal Reserve (Fed) might debate a lower interest rate increase December 2022, lifting hopes of a 'less aggressive policy stance'.

Our interim results are out! We’re pleased to announce a solid performance over the period ended 31 August on the back of our ability to generate new business in a tough trading environment and the significant investments made into our business and people.

Driven by continued wealth net inflows of R8.3 bn and growth in insure premiums of 8%, a 19.8% return on equity and top line revenue growth of 8% was generated for shareholders, with an increase of 10% in dividends per share.

Our CEO, Francois Gouws, believes that the group’s performance is the result of its core business strengths and its strategy that has paid off repeatedly for shareholders.

Find the full results here: https://www.psg.co.za/investor-relations/overview

The JSE closed 1.59% higher at 69 772 points, with market participants expecting US inflation to ease later today.

Home Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

Most major markets closed in the green on Friday, ending a multi-day losing streak witnessed for most of last week.

Home Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

The JSE finished 1.08% higher on Tuesday, boosted by a rally in industrial and mining stocks. The rand weakened to R16.38/$ at the close of business after Eskom announced the possible resumption of stage 2 load shedding on the back of power generation constraints.

Home Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

The South African Reserve Bank hikes the repo rate by 75 basis points to 5.5%.

The prime lending rate at banks is now 9%.

The price of Brent crude dropped almost 7% on Tuesday after several Chinese cities were once again locked down on news of a new Covid-19 variant.

Brent crude futures settled at $115.09 a barrel, while gold steadied below $1 830 an ounce following reports that the G7 member countries intend to bar new bullion imports from Russia.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

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Major markets ended the week in the red after upbeat US jobs data highlighted the strength of the US labour market, boosting concerns that the US Federal Reserve (Fed) will continue to aggressively hike interest rates.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

The SARB has announced a rise in the repo rate by 50 basis points. The repo rate now stands at 4,75%.

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Although the JSE lost 1.50% for the week, it received a much-needed boost from resource counters on Friday thanks to higher commodity prices, in particular those of palladium.

The South African Reserve Bank hikes the repo rate by 25 basis points.

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Global markets remained mixed on Monday as progress of ongoing peace talks between Russia and Ukraine remained elusive.

The price of oil neared $130 a barrel last night after US President Joe Biden announced additional sanctions on Russian oil, gas and energy products.

The local market, which is highly reliant on commodities, closed 0.55% up on Wednesday at 77 536.12 points. Reports showed that the Resources 10, a diversified mining index, has reached its highest mark since June 2008.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

While concerns about the war in Ukraine continued to underpin global sentiment, European indices concluded a volatile week higher as investors capitalised on lower prices following a multi-session rout. Wall Street rallied for the second day in a row on Friday as investors cheered additional injunctions against Russia and the reduced prospect of a substantial rate hike by the Federal Reserve at its next meeting.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

Brent crude rose to a record intraday high of $97 on Tuesday due to supply delay concerns amid escalating geopolitical tensions in Eastern Europe. Bullion also drew the safe-haven bids following Russia’s resolution to officially acknowledge two separatist republics in eastern Ukraine as independent.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

Global stock markets bled on Monday as concerns over interest rate hikes, poor PMI data and the possibility of a Russian attack on Ukraine dampened risk sentiment. The local bourse recorded its biggest fall since the pandemic hit in March 2020, closing 3.57% in the red.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

On Tuesday, global stocks markets remained subdued as anxiety over tighter monetary policy and rising inflation kept investors on edge. The JSE followed European stocks lower as the market started to price in the likelihood of four interest rate hikes by the Fed in 2022, the first of which expected as early as March 2022. At 20h00, the rand had weakened over 1%, trading at R15.48/$.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

As widely expected, the US Federal Reserve (Fed) announced last night that it would begin to taper its asset purchases by the end of this month.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

The JSE climbed 0.42% on Thursday, lifted by industrial metals and resources. However, investors remained cautious as solid earnings reports signalling corporate momentum stood conflicted with the likelihood that continued higher inflation could lead to sooner-than-expected tapering of monetary policies by more central banks.

PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

Chinese officials acted on the skyrocketing domestic coal prices, which led to metal and coal prices taking a knock and an adverse reaction from commodity-dependent equities and currencies.
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PSG Our advice-focused business is founded on personal service, lifelong relationships with clients, integrity, trust and transparency. These values are encapsulated in the group’s core business principles.

How much money you need to retire comfortably in South Africa, according to experts The 2021 edition of the 10X Retirement Reality Report points to a deteriorating pension outlook for South Africans. In the...