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Global equity markets, symbolized by the\u00a0MSCI World<\/span>, have marked their third consecutive month of decline as of October 2023, dropping by 2.9% month-on-month and nearly 10% since the end of July. This trend was also mirrored in the JSE and\u00a0FTSE\/JSE Capped SWIX<\/span>\u00a0Index, which experienced a year-to-date decrease of 3.2%. On the other hand, gold miners saw a surge of 21% month-on-month, following a 7% rise in gold prices in October.<\/p>\n South African retailers Tiger Brands (JO:TBSJ<\/span>) and\u00a0Clicks\u00a0(JO:CLSJ<\/span>) also resisted the downward trend. Tiger Brands showed positive momentum under new management, while Clicks reported robust earnings for 2023. Conversely, Pick n Pay (JO:PIKJ<\/span>) reported a loss for the first half of 2024 and skipped its interim dividend. Telecommunications company MTN (JO:MTNJ<\/span>) faced challenges with Nigerian tax demands and a depreciating Nigerian currency.<\/p>\n South Africa’s headline inflation rate climbed to 5.4% year-on-year due to escalating food and energy prices. In contrast, core inflation receded to 4.5% year-on-year. Despite a robust US dollar, the\u00a0South African rand<\/span>\u00a0appreciated by 1.5% month-on-month in October, although it weakened year-to-date against the dollar by 8.6%.<\/p>\n The country’s long-term borrowing rate saw a slight decline to 12.3% per annum in October. Meanwhile, US 10-year government bond yields rose to a 16-year high of 5%. The global stock sell-off also affected bonds and real estate, with the Bloomberg Global Bond Index and the FTSE\/NAREIT Global REIT Index down by 1.2% and 4.8% month-on-month respectively.<\/p>\n In the United States, September retail sales grew by 0.7% month-on-month, and third quarter GDP data showed an unexpected growth of 4.9% quarter-on-quarter, defying slowdown expectations. Major stock markets reported losses, and the\u00a0MSCI Emerging Markets<\/span>\u00a0entered negative territory with a drop of 3.9% month-on-month.<\/p>\n Global equity markets, symbolized by the\u00a0MSCI World, have marked their third consecutive month of decline as of October 2023, dropping by 2.9% month-on-month and nearly…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1811","post","type-post","status-publish","format-standard","hentry","category-innov8ions"],"_links":{"self":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/comments?post=1811"}],"version-history":[{"count":2,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1811\/revisions"}],"predecessor-version":[{"id":1814,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/posts\/1811\/revisions\/1814"}],"wp:attachment":[{"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/media?parent=1811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/categories?post=1811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.innov8fs.co.za\/blog\/wp-json\/wp\/v2\/tags?post=1811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Credit: Ambhini Aishwarya<\/span><\/h6>\n","protected":false},"excerpt":{"rendered":"