While South African markets closed in the red yesterday, the rand made slight gains against the US dollar.
Ancho Capital said that markets were weighed down by losses in technology and mining sector stocks.
Technology companies, Prosus N.V., Naspers, Altron and Datatec shed 7.8%, 7.7%, 2.9% and 1.5%, respectively.
Diversified miners, African Rainbow Minerals, South32, Exxaro Resources and BHP Group dropped 4.7%, 4.5%, 2.3% and 1.7%, respectively.
Retail companies, Italtile, Mr Price Group and Pepkor Holdings eased 3.3%, 1.8% and 1.6%, respectively.
On the other hand, property builders, Attacq, Growthpoint Properties and Equites Property Fund added 4.1%, 2.3% and 1.0%, respectively.
Telecommunication companies, Blue Label Telecoms, MTN Group and Vodacom Group advanced 3.2%, 1.8% and 1.1%, respectively.
The JSE All Share index fell 1.7% to close at 87,423.25.
UK MARKET REVIEW
The UK market finished weaker yesterday, as investors await comments from Bank of England (BoE) officials.
Miners, Antofagasta, Fresnillo and Glencore eased 2.8%, 2.4% and 1.8%, respectively, amid weaker prices fueled by concerns over US President Trump's tariff threats and fluctuating demand from China.
Retailer, B&M European Value Retail dropped 2.1%, after the company slashed its profit forecast amid economic uncertainty and also announced CEO Alex Russo's departure in April.
On the flipside, aerospace company, BAE Systems advanced 3.9%, after receiving a $230.60mn contract from NASA over the weekend.
National Grid added 2.0%, after the company announced the sale of its US onshore renewables business to Brookfield Asset Management for $1.74bn, including debt.
The FTSE 100 index marginally fell to close at 8,658.98.
US MARKET REVIEW
US markets ended mostly lower yesterday, dragged down by losses in technology sector stocks amid concerns over AI demand.
Technology companies, Broadcom, NVIDIA Corporation, Microsoft Corporation shed 4.9%, 3.1% and 1.0%, respectively.
On the contrary, Berkshire Hathaway jumped 4.1%, after the company reported record annual profits and increased its cash stake to $334.20bn.
Apple added 0.6%, after the company announced plans to invest $500.00bn in the US over the next four years, including building an AI server factory in Texas.
Healthcare companies, Amgen, Merck & Co., and Johnson & Johnson added 2.2%, 2.0% and 0.9%, respectively.
The S&P 500 index fell 0.5% to settle at 5,983.25, while the DJIA index added 0.1% to close at 43,461.21.
The NASDAQ index dropped 1.2% to end the trading session at 19,286.93.
ASIA MARKET REVIEW
Asian markets are trading lower this morning, amid concerns over US investment restrictions on China.
In Japan, wires and cables company, Fujikura has shed 5.2%.
On the flipside, trading company, Sumitomo Corporation has gained 6.0%.
In Hong Kong, online healthcare company, JD Health International has dropped 4.0%.
On the other hand, consumer electronics company, Xiaomi Corporation has added 2.7%.
In South Korea, battery materials company, L&F Co., has declined 5.6%.
On the contrary, cosmetics company, Cosmax has jumped 9.0%.
The Nikkei 225 index is trading 1.1% lower at 38,345.99.
The Hang Seng index has dropped 0.6% to trade at 23,192.09, while the Kospi index is trading 0.3% lower at 2,637.48.
COMMODITIES
At 05:30 today, Brent prices rose 0.5% to trade at $75.13/bl, extending previous sessions gains.
Yesterday, Brent prices rose 0.5% to settle at $74.78/bl, as new US sanctions on Iran and Iraq's pledge to address overproduction raised concerns over supply tightness.
At 05:30, gold prices declined 0.1% to trade at $2,947.00/oz. Yesterday, gold gained 0.5% to close at $2,950.12/oz, amid concerns over Trump's tariff plans and increased investment in gold ETFs.
Yesterday, copper declined 0.3% to close at $9,489.49/mt. Aluminium closed 0.7% lower at $2,658.98/mt.
CURRENCIES
Yesterday, the South African rand strengthened against the US dollar.
In the US, the Dallas Fed Manufacturing Index declined in January. The Chicago Fed national activity index dropped in January.
The yield on benchmark bonds were lower yesterday. The yield on the SA 10-year generic bond fell to 10.51%, while that for SA 20-year generic bond declined to 11.32%.
At 05:30, the US dollar is trading 0.1% lower against the South African rand at R18.3617, while the euro is trading 0.1% lower at R19.2316.
At 05:30 SAST, the British pound has declined 0.1% against the South African rand to trade at R23.1939.
Yesterday, the euro mostly strengthened against most of the major currencies. In Germany, business morale held steady in February, with companies less satisfied with the current situation but showing moderate improvement in expectations ahead of the federal elections.
At 05:30, the euro marginally advanced against the US dollar to trade at $1.0474, while it has marginally weakened against the British pound to trade at GBP0.8291.
BUSINESS REPORT