JSE & Global markets Weekly. First week of October 2026

After a rough week, markets breathed a sigh of relief - albeit a cautious one. On Tuesday, the S&P 500 hit an all-time high, London recouped some losses following its worst week since April, and the Johannesburg market finished flat. Oil remained the primary source of agitation: mid-week, Brent crude held above $100, weighing on the US tech sector and the South African rand. Relief arrived on Friday when Trump announced that the US would not strike Iran before the election. While the week was light on news, every story in this roundup carries real significance.

All the tracked indices ended the week either in positive territory or flat. The S&P 500 performed best (+1.10%), rising ahead of the corporate earnings season. The Nasdaq 100 barely budged (+0.2%), as high oil prices and elevated yields weighed on tech company valuations. The JSE Top-40 dipped nearly 2% mid-week, tracking the rand, but fully recovered by Friday thanks to gold miners.

SA JSE Market for the first week of October 2026

In South Africa we had the calmest week in terms of number of events. However volatility can't called too low. The thing is that bulls were fighting with bears with the same power and consequently the market remain flat.

The most exciting news for dedicated investors was news about Sanlam (JSE: SLM) plan to buy all shares of Santam (JSE: SNT) .

So, The top JSE story this week: on October 5, Sanlam offered to acquire the remaining 37.3% of the major insurer’s shares, those it does not already own, for R505 per share in cash. This represents a premium of approximately 26% over Friday’s closing price, valuing the entire deal at around R20.7 billion. Santam shares surged 19% on the day of the announcement alone. Once the deal closes, the company will delist from the JSE, where it has traded since 1964. However, the stock is still trading below the offer price, as the deal requires regulatory approval and some analysts consider the price too low.

On more interesting event came from FirstRand bank (JSE: FNB). On October 6, the retail banking arm of the FirstRand Group launched cryptocurrency trading directly on its investment platform in partnership with the local exchange VALR. Bitcoin, Ether, XRP, Solana, and the USDT stablecoin are available for trading around the clock, with a minimum transaction size of R10. Purchased coins cannot be withdrawn to external wallets somehow; they remain within the FNB ecosystem. Nevertheless, this signals a clear trend: South Africa’s major banks are opening the door to cryptocurrency for retail customers.

JSE TOP-40 index tech review

Throughout the week, the index struggled to establish a clear direction. Initially, it fell by 1.5% as oil prices rose above the psychological $100 mark; however, a recovery followed on Friday, driven by the energy sector, after Donald Trump effectively signaled that he did not plan to escalate tensions in the Strait of Hormuz in the month leading up to the US elections.

JSE TOP-40, October 05-09 2026

As we anticipated, the index has shifted into a downward trend. At present, there are grounds to expect a price correction, supported by the wave of optimism that began on Friday and may continue throughout October.

UK stock market for the first week of October 2026

The British stock market spent the week in a calm state, recovering from a difficult period. Volatility was quite low for the UK but expensive oil added a pressure. Nevertheless, british indices ended week in a green zone and we haven't find dramatic stock falls this week within and beyond british indices if micro-caps are excluded - for the first time since we observe british stock market in 2026.

The most exciting performance show Bridgepoint group' stocks (LSE: BPT): +20.66%. One of the stocks from our October "Stocks to Watch" selection, lived up to expectations within the very first week of the month. On October 7, the investment firm raised its 2026 profit forecast following a revaluation of an asset within one of its energy funds, Energy Capital Partners V. Concurrently, Bridgepoint increased its annual dividend by 50% and announced a new policy to return 40–60% of cash profits to shareholders starting in 2027. On the day of the announcement, the stock rose nearly 15% intraday, and broker Cavendish reaffirmed its "buy" rating with a target price of 575 pence.

UK100 index tech review

UK100 index October 05-09 2026

As we can see from the chart, the index remains far from its high and has gained some upward momentum this week. The stochastic oscillator is pointing upwards, moving away from the oversold zone. There is a high probability of the upward trend resuming starting from the last Friday.

US stock market in the first week of October 2026

The US stock market faced pressure from rising oil prices, although this did not prevent some indices from hitting new highs. The technology and financial sectors also remained under pressure. Investors are concerned about accelerating inflation and a tightening of monetary policy.

Despite pressure on tech sectore some related companies celebrated its rally on the US stock exchange. Penguin Solutions (Nasdaq: PENG) stock added +24.3% for the one week. The provider of AI computing infrastructure and memory modules reported fourth-quarter results that significantly exceeded expectations. Revenue surged 1.7-fold to $566.7 million, surpassing the consensus estimate of approximately $512 million, while net income rose to $81.3 million, up from $5.8 million a year earlier. Products for AI data centers and memory accounted for nearly 80% of sales, with that segment growing 141% year-over-year.

Another story of success is about Ilon Mask plan to conquer telecom sector. On Thursday, SpaceX agreed to purchase a nationwide spectrum package in the 800 MHz band - reportedly for approximately $8 billion. These frequencies offer good indoor penetration, and the market viewed the acquisition as the first step toward a SpaceX terrestrial network, which would require cell towers.

In the USA cell towers is another field of business. Telecom providers usually rent it - don't build their own. It was precisely these kinds of companies that led the rally on the US stock market this week. In particular, Crown Castle (NYSE: CCI) gained 15.6%, leading the S&P 500 and finished week with solid 20.01%. The flip side of this news was a drop among telecom operators due to likely intensifying competition. However, no lease agreements with SpaceX are in place yet. So cell towers-related stocks can both loose ot gain more value upon clarifying SpaceX plans - if they are going to become a fourth telecom provider, if they're going to rent cell towers or build their own?

Dramatic crashes occured on the US market in biotech industry once again. ArriVent BioPharma (Nasdaq: AVBP): lost 41.2% - the lowest levels since their listing on the stock exchange in January 2024. The biotech company lost nearly half its value in a single day following the failure of a key trial for a cancer drug. The Phase 3 FURVENT trial of firmonertinib, targeting a rare form of lung cancer, failed to meet its primary endpoint. The company is reviewing the full data and determining the next steps for the drug.

US indices on the start of October: fast tech overview

1. S&P index

S&P500 index in October week 1

This index and its constituent companies have proven the most resilient to the adverse external environment, hitting new all-time highs. The upward trend gives no cause for concern. We may well see the index reach new peaks throughout October. Tech indicators show us Strong Buy signal and confirm our research.

2. Dow Jones Industrial

Dow Jones Industrial index, October 05-09 2026

The index managed to recover by nearly 1% following market-calming statements indicating no plans to attack Iran, at least not before the US elections in November. The chart suggests that, after testing the support line, the index could rebound over the coming weeks; a shift to a downtrend remains unlikely in the near term. Technical analysis indicators are also signaling a buy.

3. Nasdaq 100 index

This index essentially remained at previous levels, posting one of the worst performances among the five indices, as it is heavily dependent on the technology sector which failed to find support with investors this week.

Nasdaq100 index October week 1

We believe this temporary market cooling will end soon. There are no signs of a price correction at the moment. Technical analysis indicators also signal Strong buy.

Key currencies on the first week of October 2026. Fast tech overview.

1. EUR/USD fast tech review

EUR/USD October 2026 week 1

The dollar continues to strengthen against the euro as Eurozone economies show signs of weakness and grapple with sovereign debt issues. It appears the downward trend is only just beginning. The rates get to oversold zone and we confirm - price correction can happen but don't impact really on the downward trend - just show you possible drawdowns on its way. Tech indicators show Strong Sell signal to confirm our research.

2. USD/ZAR fast tech weekly review

USD/ZAR, October 2026 week 1

This is the first week of growth for the rand after four weeks of decline. We can see downward trend after the price correction which is likely to finished last week. So according to our expectation rand will successfully fight with USD in October. Tech indicators started changing their direction and currently show us Strong Sell signal which is a correct.

3. GBP/USD- fast weekly review for October - week 1

GBP/USD October 2026, week 1

GBP/USD remains very flat trend but now according to tech analysis it should have new upward wave after the testing of support line, within a flat trend. If GBP is manages to be stronger than USD? Good question. Next week Uk to publish GDP for August and Manufacturing production output. Also BoE officials will have a speech. So we will see.

Tech indicators show us Strong Sell signal but it can be confused with a flat trends. Stochastic oscilator show us a perspective of upward momentum which is a correct thing.

JSE & Global markets Weekly: Summary

Indices recovered some of their September losses, but oil prices above $100 kept market momentum in check. Once again, the most significant moves came not from the indices themselves, but from individual companies driven by specific news: the Santam buyout, the revaluation at Bridgepoint, Penguin’s AI-focused report, and Crown Castle’s bet on SpaceX. Next week, the US corporate earnings season kicks off with reports from major banks, and the market will see how well profit growth expectations hold up against the actual figures.