Local Market Review

Locally, we followed our international counter parts lower, with the ALSI falling 3.8% in October.
The industrial sector ended the month lower by 4.7%, followed by property, down by 4.4%, resources by 4.3% and financials 3.1%. Prosus traded lower by 5.9%, Naspers by 3.8% Glencore by almost 9%, BHP by 2%, whereas ANB InBev rose by 1.2%.

On the economics front, September headline inflation rose to 5.4% YoY on the back of higher energy, food and non-alcoholic beverages prices, all registering higher annual rates in September. Core CPI, excluding food and energy printed at 4.5% YoY in September vs the previous reading of 4.8% YoY in August. Retail sales fell by 0.5%, on the back of downwardly revised 1% YoY drop in July as South African consumers remain under pressure.

We looking forward to providing you with an overview of the 2023 markets in the December edition of the Warwick Wealth Matters.

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