Today’s market analysis on behalf of Daniel Wesonga, Senior Sales Manager at Pepperstone

2025-07-02 02:40:44

(MENAFN- Your Mind Media ) South African equities extended their recent gains on Tuesday. The FTSE Top 40 Index advanced after closing with a 0.62% gain on Monday. The rally was led by sectors such as electronic technology, while precious metals miners Gold Fields and Harmony GM outperformed markedly. Encouraging domestic economic indicators supported the market. Credit growth showed an uptick, and trade figures reinforced optimism, with the trade surplus widening sharply thanks to a 6.3% rise in exports, notably in precious metals and agricultural goods.

Market focus now turns to the release of the June Manufacturing PMI. M’y’s figure marked a seventh consecutive month of contraction and the steepest decline since 2020. Should the upcoming data confirm a stabilisation or rebound, South African equities could find further support. Conversely, continued weakness risks tempering sentiment, particularly in manufacturing-related sectors. The market could also remain exposed to some volatility as traders react to new data releases this week.

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