Events that moved the market Q3 2016
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11 July 2016Source: Bloomberg NewsNew high for S&PThe S&P 500 rose 0.3% to above 2 143, ending a drought of 285 days without a fresh all-time high, the longest stretch outside a bear market since 1985.
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12 July 2016Source: Statistics SASA profitability fallsThe average profit margin for the SA formal business sector has declined, from 9c to every rand between June 2006 and September 2008 to 5c between December 2013 and March 2016.
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13 July 2016Source: UN Conference on Trade and Development 2016 World Investment Report.Foreigners shy away from SAForeign direct investment into South Africa has dropped by 69% to $1.8bn, its lowest level in 10 years.
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14 July 2016Source: ReutersUK rates on holdThe BoE keeps rates on hold, indicating that it would likely provide stimulus three weeks later.
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20 July 2016Source: UK Office for National StatisticsFewer jobless in the UKUK unemployment falls to 4.9%, the lowest since the third quarter of 2005.
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21 July 2016Source: Bloomberg NewsUK sales dropUK retail sales drop by 0.9% in June. Is the Brexit outcome starting to bite?
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21 July 2016Source: fin24SA growth haltsThe SA Reserve Bank revises its growth forecast for 2016 down to 0%.
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26 July 2016Source: Bloomberg NewsSA rand debt downgradedFitch downgrades SA’s local-currency debt rating to bring it in line with its foreign-currency rating – one notch above junk.
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3 Aug 2016Source: BloombergBitcoin hack bitesThe renegade currency Bitcoin loses 20% against the dollar over three days as hackers steal $65m from the exchange.
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4 Aug 2016Source: CNBCBoE relaunches easier moneyThe Bank of England cuts interest rates and restarts bond purchases to mitigate the impact of Brexit.
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8 Aug 2016Source: SA Chamber of Commerce and IndustryTurning point?SA’s business confidence index rises to 96.0 points from 95.1 in June, lifted by a firmer rand and improvements in export volumes and retail sales.
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9 August 2016Source: ReutersEU waives fines for Spain, Portugal
The EU agrees to cancel budget fines for Spain and Portugal. The waivers follow a similar decision last year when France missed its deficit targets. -
10 Aug 2016Source: fin24.comSA back in the leadTwo years after losing the lead to Nigeria, SA is once again the largest African economy in terms of dollar GDP - $301bn.
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15 Aug 2016Source: Bloomberg NewsPound still slidingThe pound touches 87.03 pence per euro, the weakest level in three years.
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15 Aug 2016Source: CNBCUS stocks edge even higherAll three major US indices - the Dow Jones, S&P 500 and Nasdaq – reach a fresh high on the same day.
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24 Aug 2016Source: Statistics SACPI slows downCPI decelerates from 6.3% y/y in June to 6.0% in July.
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25 Aug 2016Source: Trading EconomicsGerman business confidence down
The Ifo Business Climate Index for Germany fell sharply to 106.2 in August 2016 from 108.3 in the previous month, way below market expectations of 108.5. -
26 Aug 2016Source: CNBCTalk of a US rate hikeAt Jackson Hole Fed chair Yellen points out that she believes ‘the case for an increase in the federal funds rate has strengthened in recent months.’
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31 Aug 2016Source: ReutersNigeria in recessionNigeria's GDP shrinks by 2.06% in Q2, officially marking a recession. The non-oil sector fell due to a weaker currency while lower oil prices are dragging down the oil sector.
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31 Aug 2016Source: BDLiveSA trade surplus shrinksSA’s trade surplus declines to R5.22bn in July, down from June’s revised surplus of R12.47bn.
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31 Aug 2016Source: Nationwide Building SocietyUK homes more dearUK house prices rise 0.6% from July and are up 5.6% compared with a year earlier.
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31 Aug 2016Source: fin24Futuregrowth halts SOE loans
Futuregrowth suspends further loans to Eskom, Transnet, Sanral, Landbank, IDC and DBSA after concern over the new government structure to oversee all state-owned enterprises (SOEs). -
1 Sept 2016Source: US Department of LabourUS employment better than expected
Jobless claims rise to 263 000, a much better level than the median forecast in a Bloomberg survey - 265 000. Dismissals are close to a four-decade low. -
6 Sept 2016Source: Statistics SASA economy still growingSA economy grows by 3.3% quarter-on-quarter in Q2 2016. The year-on-year growth stands at 0.6%.
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6 Sept 2016Source: fin24Nasdaq hits new highUS equities rally as analysts conclude the weak economic data recently released reduced the odds of a US interest rate hike in September.
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7 Sept 2016Source: Bloomberg NewsUK manufacturing cutUK manufacturing output for July falls 0.9% from June. But total industrial production rises 0.1%, thanks to oil and gas output.
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7 Sept 2016Source: Bloomberg NewsChinese reserves dwindlingChina’s substantial foreign-exchange reserves fall to to $3.19 trillion in August, the lowest level since 2011 as the central bank continues to defend the yuan.
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13 Sept 2016Source: fin24SA current account deficit shrinksSA's Q2 current account deficit narrows significantly to 3.1% of GDP from a revised 5.3% in Q1.
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18 Sept 2016Source: BloombergNigeria downgradedS&P downgrades Nigeria’s rating to B, 5 levels below investment grade, due to poor growth amid lower oil prices, a restrictive foreign exchange policy and delayed fiscal stimulus.
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21 Sept 2016Source: Statistics SACPI within target rangeCPI drops from 6.0% y/y in July to 5.9% in August, with transport one of the main contributors to the decrease.
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21 Sept 2016Source: Bloomberg NewsBoJ reignite stimulusBOJ keeps the benchmark rate at a negative 0.1%. Governor Haruhiko Kuroda pledges to expand the monetary base until inflation is stable above 2%.
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27 Sept 2016Source: Wall Street journalUS confidence buoyantAccording to the Conference Board’s consumer-confidence index, US consumers have not been this confident since August 2007, the start of the financial crisis.
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