Bottom Line I MTBPS in focus this week, JSE bounced between losses and gains

It was a week of stocks bouncing between losses and gains. Good Morning my name is Tshepo Mongoai. This is Bottom Line. Let's make sense of the market.

The JSE All Share Index closed the week at 108 846 points - it shaved-off 1.14 %. Zoom into some of the sectors that dragged the market lower….
The decline was in the resources sector that pulledback in some of the major stocks. The JSE Resources 20 started the week at 105 016 points and on Friday it finished the week at 104 719 points
Let's take a look at some of the resources stock that contributed to that decline.

Despite positive Third Quarter Operating Update - Sibanye-Stillwater led the losses falling 3.7% for the week.
Profit taking has also attributed to the share price weakness seen last week.
Impala Platinum was down nearly sixth-tenths of a percent, Exxaro shed 1.5% while Kunba Iron Ore also down amid the risk-off sentiment the affected the broader Resources Index.
The Telecoms sector was one of the main laggards that dragged the JSE lower last week.

MTN Group was the largest negative contributor putting pressure on the entire sector.
The stock fell nearly five percent.
Investors have raised concerns over volatile earnings from its African operations.

The other stocks to watch today is Vodacom..
Vodacom share performance also mirrored weaker telecoms stocks.
Vodacom fell 2% last week.
The movement was also influenced by company-specific announcement such as Pls Call Me settlement and its updated trading statement.
The company will release its financial results today.

For now we turn our attention on the MTBP expectation in our traders' corner - and we are joined virtually by Olebogeng Mphahlele Trader and Lefika Securities…

We have seen the absence of internal factors moving the market - the MTBPS has the potential to move the market?
The there's talk of removing medical tax credit doing the rounds - will that affect the stock in health sector?
What will be positive for the local stock market?
Do you expect any surprises?
We have Vodacom number out today - your expectations?Olebogeng Mphahlele Trader with Lefika Securities

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