SA Company News:
The Johannesburg Stock Exchange All-Share Index closed 0.94% lower at the 89 106 level.
There were no major company releases, however foreign investors sold R19.7 billion of South African stocks traded on the JSE in the fourth quarter of 2024, reversing a purchase of R4.1 billion in the third quarter. The last time there was a sale of this significance was in the third quarter of 2023.
SA Economy:
Motor industry association Naamsa said that 33 447 cars were sold in March, 25.2% more than the 26,691 of March 2024. In the first quarter of 2025, aggregate new-car sales stood at 102,268, 20.6% more than the 84,775 at the same stage last year. However, light commercial vehicle sales, including bakkies and minibus taxis, declined by 8.4%, while the truck market showed mixed results. The sustained growth in new-car sales, which began in October 2024, was driven in part by a shift in consumer preferences. Many buyers opted for more affordable brands, particularly Chinese manufacturers, as they sought better value for money. This affordability also encouraged more consumers to purchase new vehicles instead of used ones.
Global Economy:
Mortgage applications in the U.S. declined by 1.6% in the week ending 28 March, extending a three-week losing streak. This followed a 2% drop in the previous week. Refinancing applications fell 5.6%, hitting a five-week low, while applications for new home purchases rose 1.5%.
Private businesses in the US added 155 000 workers to their payrolls in March 2025, following an upwardly revised 84 000 in February and above expectations of 105 000, according to the ADP National Employment report.
U.S president Donald Trump announced sweeping reciprocal tariffs from 10% to 49%, sparking fears of a global trade war that could impact the US economy. Trump announced reciprocal tariffs at half the rates other countries charge the US, 20% for the EU, 34% for China, 24% for Japan, 10% for the UK and Australia, 26% for India and 30% for South Africa.
Global Company:
The FTSE 100 closed 0.31% lower at 8 608.
GSK and AstraZeneca were among the biggest fallers, mirroring the overnight decline in major US pharmaceutical stocks.
The Hang Seng Index is trading 2.13% lower at 22 711. The Hang Seng is trading at a six-week low after the US moved to impose a 34% reciprocal tariff on China. The Hang Seng Tech Index fell 2.3%, with Alibaba Group Holding falling 5% and Tencent Holdings sliding 2%.
In China, the Shanghai Composite is down 0.63% at 3 320.
The Dow Jones Industrial Average closed 0.56% higher at 42 225, while the S&P 500 closed 0.67% higher at 5 670.
Tesla sales declined in the first three months of the year. Tesla reported a drop of 13% due to combination of factors. Tesla reported deliveries of 336 681 globally in the January to March quarter. The figure was down from sales of 387 000 in the same period a year ago.
Companies who are heavily reliant on imports were severely affected, with Apple down 7.5%, Nike 7%, Five Below 14%, Dollar Tree 11%, and Gap 8.5%. Major tech stocks were also lower, with Tesla down 7.2%, Nvidia 5.2%, and Amazon 5.8%.
Commodities:
Gold is trading higher by 0.46% at $3 132/oz, while Platinum is lower by 0.8% to $977/oz.
Brent crude was 1.81% higher at $73.59 a barrel.
Currency:
The rand traded at R18.91 against the US Dollar, R24.75 against British Pound and R20.70 against the Euro.
The Euro is firmer against the US Dollar to trade at $1.0947.
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| Market Indicators | |||||||
| Commodities $ | Cross Currencies ($) | Major Indices | |||||
| Gold | 3132.12 | 0.46% | USD/ZAR | 18.91 | Top40 | 81814.91 | -0.93% |
| Platinum | 977.14 | -0.80% | GBP/ZAR | 24.75 | Dow 30 | 42225.32 | 0.56% |
| Brent | 73.59 | -1.81% | EUR/ZAR | 20.70 | S&P 500 | 5670.97 | 0.67% |
| Copper | 4.90 | -3.06% | EUR/USD | 1.0947 | FTSE | 8608.48 | -0.31% |
| Palladium | 963.97 | -2.59% | USD/JPY | 147.05 | DAX | 22390.84 | -0.67% |
| Iron Ore | 101.95 | -0.74% | BITCOIN | 83448.86 | Shanghai | 3329.19 | -0.63% |
| Source: FACTSET | |||||||