Daily market 360

Thursday | 16 July 2026

Quick view | Selected indices

Cumulative returns

Indicators

CLOSING

1D%

1M%

6M%

YTD%

1Y%

5Y%

All Share

110,288.7

 

-0.26%

-4.56%

-8.75%

-4.79%

13.68%

63.30%

Top 40

102,003.8

 

-0.21%

-5.15%

-9.80%

-5.53%

14.22%

66.02%

Financial 15

25,948.9

 

-0.26%

-0.97%

3.35%

4.33%

25.26%

102.44%

Industrial 25

132,504.0

 

2.00%

0.89%

-4.78%

-4.36%

-2.97%

51.04%

Resource 10

103,161.5

 

-2.80%

-14.85%

-26.01%

-16.57%

28.56%

53.69%

Mid Cap

104,835.0

 

-0.28%

-2.44%

-12.30%

-7.63%

6.76%

41.67%

Small Cap

108,762.6

 

-0.65%

-0.99%

-1.14%

0.75%

16.61%

94.21%

ALBI

1,431.1

 

0.06%

1.14%

4.05%

3.74%

20.43%

79.99%

STeFI

662.7

 

0.02%

0.55%

3.35%

3.64%

7.05%

39.87%

Discovery funds | Selected funds

Annualised returns

1Y%

3Y%

5Y%

9.61%

11.82%

9.67%

10.16%

11.78%

9.30%

11.37%

11.77%

8.73%

12.06%

10.76%

8.73%

9.87%

14.67%

11.47%

26.65%

24.87%

15.37%

6.98%

7.78%

6.91%

Expected corporate releases | Selected items

CODE

TYPE

DATE

Visual International

VIS

Final

16 Jul

Numeral

XII

Quarterly

17 Jul

Karooooo

KRO

Quarterly

20 Jul

JSE All Share

2025 vs 2026

Discovery Balanced Fund return

5-year normalised % performances

Equities | JSE All Share companies

Cumulative returns

Best one-day % performance

CLOSE

1D%

YTD%

1Y%

Compagnie Fin Richemont CFR

396600

7.42%

9.35%

20.46%

Naspers Ltd -N- NPN

89036

4.88%

-19.39%

-19.72%

Prosus N.V. PRX

77357

4.61%

-24.42%

-23.56%

Clicks Group Ltd CLS

22531

3.36%

-33.06%

-37.82%

We Buy Cars Hlds Ltd WBC

3376

3.18%

-29.42%

-42.24%

Worst one-day % performance

CLOSE

1D%

YTD%

1Y%

Premier Group Limited PMR

18340

-6.33%

9.39%

34.94%

Karooooo Ltd KRO

92000

-5.64%

17.57%

0.66%

Valterra Platinum Ltd VAL

106979

-4.67%

-24.10%

24.39%

KAP Limited KAP

270

-4.59%

40.62%

51.69%

Famous Brands Ltd FBR

5610

-4.56%

4.90%

-7.62%

Market update | Selected headlines

South African equities closed slightly lower, with the JSE All Share falling 0.26% to 110,288.71 points and the Top 40 easing 0.21% to 102,003.83. Mining production declined 5.4% year on year in May, reversing April’s 8% increase and marking the first contraction in six months. With limited domestic data ahead, the rand remains sensitive to US releases and global risk appetite. Governance concerns intensified after the FSCA opened an investigation into the Public Investment Corporation’s leadership, transparency and oversight.

Oil prices rose for a fourth consecutive session as renewed US strikes on Iranian military sites heightened fears of regional escalation and supply disruption. The Strait of Hormuz remains central to the risk premium, while potential Houthi action near the Bab el-Mandeb could threaten another major shipping route. Goldman Sachs said Brent could exceed US$110 if Gulf exports recover slowly. US crude inventories fell by 1.7 million barrels, while gold pared losses after softer producer inflation and persistent geopolitical uncertainty.

The rand traded unchanged as investors assessed US inflation data and the Federal Reserve’s policy outlook. Sterling strengthened against the dollar and euro amid expectations that Andy Burnham would appoint a fiscally conservative finance minister. The dollar index hovered near a one-month low at 100.47 after softer US inflation reduced expectations of near-term tightening. June producer prices recorded their steepest fall in 14 months, although escalating Middle East tensions continue to threaten energy prices, inflation and the global policy outlook.

JSE sector breakdown

Normalised % performances comparison

In the news | Selected items

Richemont’s Jewellery Maisons Power Broad-Based First-Quarter Growth

Richemont reported a strong first quarter to 30 June 2026, with sales increasing 20% at constant exchange rates and 17% on a reported basis to EUR 6.3 billion. Jewellery Maisons led growth with a 24% advance, while Specialist Watchmakers rose 8% and the Other division gained 9%. Momentum was broad-based, with double-digit expansion across the Americas, Asia Pacific, Japan and Europe, alongside renewed growth in the Middle East and Africa. Retail sales climbed 24%, reinforcing direct-to-consumer strength. Despite elevated input costs and geopolitical uncertainty, continued investment is supported by EUR 9.1 billion in net cash and Avolta disposal proceeds.

Supermarket Income REIT Expands Defensive Grocery Portfolio with £118 Million Acquisition

Supermarket Income REIT has agreed to acquire three established UK supermarkets for £118 million, representing an average net initial yield of 6.9%, with completion expected in September 2026. The portfolio includes a Sainsbury’s store in Manchester and Tesco properties in Edinburgh and Halifax, all secured by triple-net leases with inflation-linked, investment-grade income. The assets offer a weighted average unexpired lease term of eight years and average rents of £34 per square foot. Management sees potential to enhance returns through future lease regears. The transaction expands the REIT’s defensive grocery exposure and reinforces its specialist position within UK food retail property.

Quick view | Selected indices

Cumulative returns

Indicators

CLOSING

1D%

1M%

6M%

YTD%

1Y%

5Y%

S&P 500

7,572.40

 

0.38%

0.24%

9.04%

10.62%

21.28%

73.68%

Eurostoxx 50

6,272.70

 

-0.25%

0.86%

3.48%

8.31%

17.07%

54.62%

FTSE

10,515.92

 

-0.13%

0.82%

2.71%

5.89%

17.65%

49.97%

Nikkei 225

68,751.51

 

1.49%

-0.82%

27.06%

36.58%

73.27%

143.12%

Brent Crude

85.64

 

0.35%

2.59%

34.19%

40.60%

24.35%

16.95%

Gold

4,060.51

 

0.19%

-5.77%

-12.04%

-5.97%

22.14%

121.95%

USDZAR

16.33

 

-0.29%

0.73%

-0.06%

-1.44%

-8.90%

12.21%

GBPZAR

22.10

 

0.80%

1.67%

1.11%

-0.89%

-7.86%

9.70%

EURZAR

18.72

 

0.08%

-0.38%

-1.32%

-3.87%

-10.00%

8.74%

Bitcoin

65,323.50

 

0.89%

-2.22%

-32.00%

-25.90%

-44.29%

105.89%

Ethereum

1,935.82

 

2.78%

5.80%

-41.63%

-35.36%

-35.99%

0.59%

Discovery funds | Selected funds

Annualised returns

1Y%

3Y%

5Y%

-1.34%

2.59%

4.10%

2.72%

11.28%

12.05%

2.46%

11.29%

13.49%

---%

---%

---%

In the news | Selected items

Morgan Stanley’s Dealmaking and Trading Strength Drive Record Quarterly Revenue

Morgan Stanley exceeded second-quarter expectations as strong dealmaking and trading activity lifted net revenue to US$21.35 billion. Net income rose to US$5.58 billion, or US$3.46 per share, ahead of consensus forecasts. Investment banking revenue increased 58% to US$2.44 billion, supported by merger advisory, IPO underwriting and equity issuance. Equities trading revenue surged 69% to a record US$6.3 billion as volatility boosted client activity, particularly in Asia. Wealth management assets reached US$10 trillion, aided by US$148 billion in net new assets. Management remains positive on AI financing, while acknowledging infrastructure constraints, execution risks and potential investment failures.

BlackRock’s Record Assets and Inflows Reinforce Earnings Momentum

BlackRock delivered a stronger-than-expected second quarter as market gains and client demand lifted assets under management to a record US$15.34 trillion. Net inflows reached US$192 billion, including US$92 billion into fixed income and US$71.6 billion into equities, with iShares remaining a central growth driver. Adjusted earnings of US$13.91 per share exceeded consensus, while the operating margin expanded to 45.9%, its highest in nearly five years. Private markets attracted US$15.4 billion, led by private credit and infrastructure. Management also increased planned 2026 share repurchases to US$2 billion, signalling confidence in cash generation despite scrutiny of private-credit risks and technology-related borrower disruption.

Rand vs selected majors

1-Year performances

Discovery Global Equity Feeder Fund return

5-Year normalised % performances

Interest rates | Selected rates

DATE CHANGED

CURRENT

PREVIOUS

United States

Dec '25

3.50% - 3.75%

3.75% - 4.00%

United Kingdom

Aug '24

4.00%

4.25%

European

Jun '26

2.40%

2.15%

SA Repo Rate

May '26

7.00%

6.75%

SA Prime Rate

May '26

10.50%

10.25%

10-Year bond yields | Selected indicators

YIELD %

ONE DAY

ONE MONTH

ONE YEAR

4.56%%

1

12

10

4.94%%

0

15

30

3.12%%

0

19

43

2.68%%

1

5

111

8.53%%

-1

13

-135

Economic calendar | Selected events and releases

Today's events and releases

TIME

PERIOD

EXP.

PREV.

GDP m/m UK

8:00

---

0.00%

-0.10%

Core Retail Sales m/m US

14:30

---

0.00%

0.80%

Philly Fed Manufacturing Index US

14:30

---

1270.00%

1030.00%

Retail Sales m/m US

14:30

---

0.20%

0.90%

Unemployment Claims US

14:30

---

216k

215k

Previous session's released data

TIME

PERIOD

EXP.

PREV.

Industrial Production m/m EU

11:00

---

0.30%

-0.20%

Core PPI m/m US

14:30

---

0.30%

0.20%

PPI m/m US

14:30

---

0.00%

-0.30%

Fed Chairman Warsh Testifies US

16:00

---

---

---

Market update | Selected headlines

European equities ended modestly higher as gains in luxury shares offset weakness across telecommunications and technology. The STOXX 600 rose 0.12% to 642.84 points, supported by Richemont’s 6.68% advance after stronger-than-expected quarterly results. European Central Bank officials remained cautious on inflation but did not signal an imminent rate increase, noting that second-round pressures had yet to emerge. Investors continue to assess oil prices, geopolitical tensions and corporate earnings, while another policy move later this year remains possible for the region.

Wall Street advanced modestly as softer inflation data and a strong start to second-quarter earnings improved sentiment. Retail and travel shares outperformed, while semiconductor stocks lagged. PayPal surged 17.2% following reports of a US$60.50-per-share takeover proposal from Stripe and Advent International. BlackRock and Morgan Stanley also exceeded profit expectations, supporting confidence in earnings growth. Cooler producer inflation reduced immediate pressure on the Federal Reserve to tighten policy, although elevated energy costs and geopolitical risks remain important market concerns for investors.

Asian equities weakened as semiconductor shares retreated ahead of TSMC’s results, while bonds gained on softer US inflation. The Bank of Korea raised its benchmark rate by 25 basis points to 2.75%, citing stronger growth, persistent inflation and financial-stability risks. TSMC was expected to deliver another record quarter, supported by demand for advanced AI chips and packaging. Rio Tinto reported stronger-than-expected iron ore sales, although higher fuel costs and challenging second-half production targets tempered the operational performance across the region.

Selected global indicators

Normalised % performances comparison