Friday | 21 February 2025
Quick view | Selected indices
Cumulative returns
Indicators
CLOSING
1D%
1M%
6M%
YTD%
1Y%
5Y%
All Share
88,873.3
0.60%
4.89%
6.08%
5.68%
21.83%
53.78%
Top 40
81,367.4
0.74%
6.60%
6.17%
7.94%
22.33%
56.38%
Financial 15
20,308.1
-0.26%
-0.40%
-0.43%
-1.46%
17.63%
35.73%
Industrial 25
127,502.3
0.15%
9.62%
13.55%
7.43%
24.95%
73.64%
Resource 10
63,352.2
3.47%
7.92%
3.48%
22.05%
25.84%
26.67%
Mid Cap
88,848.1
0.22%
-0.83%
0.78%
-0.65%
16.59%
17.90%
Small Cap
88,332.9
-0.23%
-2.45%
6.76%
-5.41%
24.20%
101.40%
ALBI
1,119.8
-0.14%
1.41%
5.15%
0.73%
16.93%
54.76%
STeFI
601.1
0.02%
0.65%
4.05%
1.08%
8.38%
35.08%
Discovery funds | Selected funds
Annualised returns
1Y%
3Y%
5Y%
Expected corporate releases | Selected items
CODE
TYPE
DATE
RMB Holdings
RMH
Interim
21 Feb
Anglo American plc
AGL
Final
21 Feb
Blue Label Telecoms
BLU
Interim
21 Feb
2024 vs 2025
5-year normalised % performances
Equities | JSE All Share companies
Cumulative returns
Best one-day % performance
CLOSE
1D%
YTD%
1Y%
DRD Gold Ltd DRD
2112
10.40%
27.77%
55.52%
AngloGold Ashanti plc ANG
59429
7.50%
41.16%
73.65%
AECI Limited AFE
8830
6.51%
1.01%
-7.05%
Harmony GM Co Ltd HAR
21601
4.73%
43.36%
100.36%
Pan African Resource plc PAN
849
3.54%
3.66%
96.07%
Worst one-day % performance
CLOSE
1D%
YTD%
1Y%
Metair Investments Ltd MTA
556
-11.04%
-43.55%
-55.52%
Adcock Ingram Hldgs Ltd AIP
5931
-5.86%
-11.48%
9.83%
Vodacom Group Ltd VOD
11445
-3.82%
12.91%
23.72%
ADvTECH Ltd ADH
3156
-3.63%
-6.74%
14.76%
Astral Foods Ltd ARL
17100
-3.06%
-8.56%
18.32%
Market update | Selected headlines
The Top 40 index gained 0.74% to close at 81,367.4 points, while the All Share index rose 0.6% to 88,873.3 points. Tensions at the G20 foreign ministers' meeting in South Africa highlighted divisions over Ukraine and trade, with the U.S. diplomat boycotting the event. G20 finance ministers and central bankers will meet in Cape Town next week, though U.S. Treasury Secretary Scott Bessent will not attend.
Gold prices held steady, poised for an eighth straight weekly gain, as safe-haven demand grew amid concerns over Trump’s tariff policies. Switzerland’s gold exports surged, with U.S. shipments at a 13-year high. Oil prices continued their upward trend, supported by falling U.S. gasoline and distillate inventories and potential supply disruptions in Russia. The Energy Information Administration reported rising crude stockpiles alongside declining fuel inventories due to seasonal refinery maintenance.
The South African rand strengthened as the dollar weakened on Trump’s tariff rhetoric and U.S. economic data. The Japanese yen hit a 2.5-month high on stronger inflation, while the dollar was set for a third straight weekly drop. The Australian and New Zealand dollars climbed to yearly highs despite recent rate cuts, with New Zealand’s central bank signalling more to come. Australia’s central bank urged caution, noting further rate reductions remain a possibility.
Normalised % performances comparison
In the news | Selected items
Anglo American delivered strong operational and cost performance in 2024, maintaining a 30% EBITDA margin despite market challenges. The $5.3 billion divestment of its steelmaking coal and nickel businesses strengthens balance sheet flexibility, while $1.3 billion in cost savings was achieved ahead of schedule. Net debt remained stable at $10.6 billion, and the total dividend stood at $0.64 per share. The planned Anglo American Platinum demerger and De Beers restructuring aim to enhance long-term value, as the company focuses on high-margin growth in copper, premium iron ore, and crop nutrients.
Gold Fields reported a notable increase in profit for FY 2024, reaching $1,245 million ($1.39 per share), up from $703.3 million ($0.80 per share) in 2023. Gold production rose to 2.07 million ounces, with revenue per ounce climbing to $2,418. Despite higher all-in sustaining costs of $1,629/oz, the company benefited from strong operational performance and higher gold prices. Adjusted free cash flow increased to $605 million, supporting a total FY 2024 dividend of 1,000 SA cents per share. Net debt rose to $2.09 billion, with a net debt-to-adjusted EBITDA ratio of 0.73x. Gold Fields remains committed to operational efficiency and sustainable returns.
Quick view | Selected indices
Cumulative returns
Indicators
CLOSING
1D%
1M%
6M%
YTD%
1Y%
5Y%
S&P 500
6,117.52
-0.43%
2.02%
9.30%
4.01%
22.95%
81.35%
Eurostoxx 50
5,470.50
0.07%
5.90%
12.58%
11.73%
14.92%
42.05%
FTSE
8,662.97
-0.57%
1.67%
4.71%
5.99%
12.23%
16.49%
Nikkei 225
38,678.04
-1.24%
-0.58%
1.62%
-3.05%
0.82%
64.73%
Brent Crude
76.60
0.68%
-4.07%
-0.74%
2.37%
-7.14%
29.74%
Gold
2,939.19
0.20%
8.64%
16.91%
11.99%
45.22%
81.51%
Bitcoin
98,698.29
1.91%
-3.84%
64.86%
4.59%
88.86%
922.87%
Ethereum
2,719.10
0.49%
-16.96%
3.65%
-18.35%
-9.27%
952.45%
Discovery funds | Selected funds
Annualised returns
1Y%
3Y%
5Y%
In the news | Selected items
Alibaba's shares opened 10% higher in Hong Kong on Friday, marking their highest point in over three years, after the company reported robust third-quarter results. Revenue for the three months ending December 31 reached 280.15 billion yuan ($38.58 billion), slightly exceeding analysts' expectations of 279.34 billion yuan. The company continues to invest heavily in its e-commerce and AI businesses, driving confidence in its future growth prospects.
Walmart has lowered its sales and profit growth projections for the current fiscal year, citing caution due to geopolitical uncertainties. The retailer expects adjusted earnings per share between $2.50 and $2.60, below the anticipated $2.76, and forecasts annual sales growth of 3% to 4%, slightly missing analysts' expectations. Despite these cautious outlooks, Walmart reported a 2.8% rise in transactions at its U.S. stores and a 20% increase in U.S. e-commerce sales. The company also raised its dividend by 13%, the largest increase in over a decade, reflecting confidence in its cash flow.
1-Year performances
5-Year normalised % performances
Interest rates | Selected rates
DATE CHANGED
CURRENT
PREVIOUS
United States
Nov '24
4.50%-4.75%
4.75%-5.00%
United Kingdom
Feb '25
4.50%
4.75%
European
Jan '25
2.90%
3.15%
SA Repo Rate
Jan '25
7.50%
7.75%
SA Prime Rate
Jan '25
11.00%
11.25%
10-Year bond yields | Selected indicators
YIELD %
ONE DAY
ONE MONTH
ONE YEAR
4.49%%
-2
-14
---
4.61%%
0
2
50
2.53%%
0
1
16
1.42%%
-1
24
70
10.61%%
3
153
58
Economic calendar | Selected events and releases
Today's events and releases
TIME
PERIOD
EXP.
PREV.
Retail Sales m/m UK
9:00
Jan
0.40%
-0.30%
Flash Manufacturing PMI EU
11:00
Feb
4690.00%
4660.00%
Flash Manufacturing PMI UK
11:30
Feb
4850.00%
4830.00%
Flash Services PMI US
16:45
Feb
5300.00%
5290.00%
Flash Manufacturing PMI US
16:45
Feb
5130.00%
5120.00%
Previous session's released data
TIME
PERIOD
EXP.
PREV.
Building Permits YoY SA
13:00
Dec
18.00%
12.40%
Unemployment Claims US
15:30
Jan
215K
219K
Crude Oil Inventories US
19:00
Dec
3.2M
4.6M
Market update | Selected headlines
European stocks ended the session at a one-week low, with the STOXX 600 falling 0.2%. The defence sector led losses, down 2.8%, after an earlier rally on expectations of increased military spending. The European Commission introduced new measures to boost sustainable investment and streamline reporting, aiming to enhance the EU’s competitiveness against the U.S. under Trump. Germany’s office property market remains fragile due to economic headwinds, while UK manufacturers expect a slight output increase despite rising taxes, energy costs, and weak exports.
Wall Street saw a broad sell-off as renewed tariff fears and a cautious Walmart outlook dampened sentiment. The Dow dropped 1.01%, while the S&P 500 ended a two-day record streak. Economic data signalled stability, but concerns linger over labour market disruptions following layoffs at Elon Musk’s Department of Government Efficiency (DOGE). Financials led declines, falling 1.6%, while energy stocks gained 1.0%. Decliners outnumbered advancers across both the NYSE and Nasdaq.
Hong Kong stocks hit a three-year high, leading regional gains as investors balanced Japan’s rising inflation against U.S. tariff concerns. Japan’s inflation climbed to 4% in January, with core inflation surpassing expectations at 3.2%, marking 34 consecutive months above the Bank of Japan’s 2% target.
Normalised % performances comparison