October proved to be another resilient month for markets as both local and global indices ended in the green. Our local FTSE/JSE All Share Index returned 1.6% for the month, and is up a whopping 33.9% year-to-date. These returns have largely been led by the significant run in resource stocks, which make up roughly a quarter of the local equity market. While the resources sector was down -4.8% in October, the sector has returned a very impressive 95.1% YTD. Global Developed Markets, as measured by the MSCI World Index, were also positive for the month and returned 2.0% in USD, and are up 20.2% YTD.
Oliepryse daal namate geopolitieke spanning afneem
Die oliemark het in Junie ‘n skerp ommekeer beleef nadat geopolitieke spanning in die Midde-Ooste tussen die VSA en Iran afgeneem het. Die Straat van Hormuzbly een van die wêreld se belangrikste strategiese skeepsroetes, met meer as 20% van wêreldwye uitvoere van ruolie en vloeibare aardgas (LNG) wat normaalweg deur hierdie smal waterweg vervoer word.