Monthly Market Review – November 2025
Global markets were relatively flat in November as investors worried about high technology valuations. The MSCI World Index rose just 0.3% but remains up 20.6% for the year. In contrast, the JSE continued its winning streak with a ninth consecutive monthly gain of 1.7%, pushing the All-Share Index past 115,000 points for the first time and bringing year-to-date returns to 31.9%.
Monthly Market Review – October 2025
Global and local markets delivered another strong month in October, defying the typical “October effect”. Investor sentiment was supported by a 25bps rate cut from the US Federal Reserve and easing trade tensions between the US and China. The MSCI World Index rose 2.0%, taking its year-to-date gain above 20%. Locally, the JSE recorded its eighth straight monthly advance, led by robust performances from the financial and property sectors.
Monthly Market Review – September 2025
Global and local markets delivered another strong month in September, defying the historical trend of weakness in this period. Optimism around lower interest rates, firm commodity prices, and resilient growth supported investor sentiment. The MSCI World Index gained 3.7% for the month, while South African equities shone, lifted by an extraordinary rally in resource shares.
OIG Monthly Market Review – August 2025
Global and local markets extended their positive run in August, supported by resilient corporate earnings, firm commodity prices, and growing expectations of monetary easing in the United States. The MSCI World Index gained 2.6% for the month, while South Africa’s equity market continued its strong momentum, advancing for the sixth consecutive month, with gold miners once again driving the performance. Although political risks in Europe and renewed trade tensions created some volatility, sentiment remained constructive as investors focused on interest rate policy and the global growth outlook.
OIG Monthly Market Review – July 2025
July marked a pivotal month for financial markets, both domestically and globally. Locally, the FTSE/JSE All Share Index broke through the 100,000-point milestone for the first time, driven by robust commodity prices, resilient corporate earnings, and a supportive interest rate cut by the South African Reserve Bank. Globally, investor sentiment was supported by easing inflation pressures, a solid United States earnings season, and more accommodative monetary signals from major central banks. Equity markets across developed and emerging regions posted healthy gains. Together, these factors created a broad risk-on environment, lifting both local and global asset classes.
OIG Monthly Market Review – June 2025
Markets ended the first half of 2025 on a firmer footing, shrugging off mid-month volatility to deliver a broadly positive performance. While geopolitical tensions and ongoing trade uncertainty sparked brief bouts of risk aversion, investor sentiment improved as inflation remained contained in most regions and policy support persisted.
OIG Monthly Market Review – May 2025
May proved to be a month of mixed performances for global markets as volatility persisted due to ongoing trade tensions and inflationary concerns. Despite these challenges, some markets saw modest gains. South Africa’s economy showed resilience amidst global uncertainty. The Rand strengthened to levels last seen in December. Inflation increased slightly to 2.8%. Global economic outlooks remain cautiously optimistic.
OIG Monthly Market Review – April 2025
April was a turbulent but ultimately positive month for global markets. Despite a rocky start due to escalating U.S. tariff announcements, markets regained their footing toward the end of the month following a temporary pause on most tariff measures.
OIG Monthly Market Review – March 2025
In March 2025, global financial markets faced significant volatility, primarily due to escalating trade tensions and anticipated tariff implementations by the United States. The uncertainty intensified following President Donald Trump’s announcement of forthcoming reciprocal tariffs. South African Equities showed resilience with only listed property posting a loss for March.
OIG Monthly Market Review – February 2025
Global markets in February remained steady despite mixed economic signals, with U.S. bond yields declining and European equities posting gains. In South Africa, the equity market showed resilience despite sector-specific struggles, particularly in resources, which fell sharply due to weaker commodity prices. The delayed 2025 Budget and potential VAT hike weighed on local investor sentiment, while the return of load-shedding raised concerns over economic stability.