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6 September : Markets Shake as Dollar Strength and Oil Surge Defy Expectation

  • Stronger US dollar and rising oil prices indicate a reflation trade, though sector performance surprised with modest market losses.
  • Concerns arise over the oil price surge, impacting global growth, demand, inflation, and trade terms.
  • Polyethylene futures show some positive signs amidst a challenging chemical market.
  • Energy stocks led the gainers, while home builders struggled due to rising rates.
  • Airbnb and Blackstone likely joining the S&P 500.
  • Manchester United declined as the Glazers withdrew it from the market.
  • Luckin Coffee thrived in China with strong alcohol-infused latte sales.
  • Local GDP improved due to reduced power outages, with the primary sector driving growth.
  • TFG’s disappointing trading update and profit forecast decline weighed on the local market.
  • Mixed Asian markets, with Chinese property stocks gaining on stimulus hopes.
  • A stronger dollar, higher oil prices, and weaker global treasury yields pose short-term challenges.
  • Shoprite analysis revealed adjusted numbers affected by one-offs, strong underlying H2 earnings, rising capex indicating market competition, and a focus on price competitiveness to boost future sales.
  • Shoprite’s GP margin improved in H2 FY23 but remained below H2 FY22 levels, suggesting an investment in price competitiveness.
Information correct at time of publishing. It is important to conduct thorough research and analysis using a combination of fundamental and technical analysis techniques to make informed trading decisions.

Additionally, consider your risk tolerance, investment objectives, and time horizon when assessing company performance for trading. This content is not meant as financial advice.
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