The JSE all share index continued on its recovery closing the day at 67 404 from its opening price of 66 558.46
On Thursday the South African equity markets saw Trustco Group Holdings Ltd. being the biggest loser of the day with a -16.67% loss moving from R1.50 to close the day at R1.25, whilst Universal Partners Ltd. saw a 11.05% gain moving from R18.01 to R20.00, making it the biggest winner in the equity market.
The South African Reserve Bank has decided to hold the repurchase rate at 3.5%. In a Statement, the Monetary Policy Committee implied that the policy rate path of the Quarterly Projection Model (QPM) indicates an increase of 25 basis points in the fourth quarter of 2021 and in each quarter of 2022.
Over 337 people are reported dead from the looting and unrest seen in the country, with 79 in Gauteng and 285 in Kwa-Zulu Natal.
Following the interest rate announcement the Rand closed at R14.69 from its opening of R14.62 against the US dollar.
Gold slightly recovered moving from 1 803.66 USD/oz to 1 806.92 USD/oz.
Platinum continued on its recovery with a 1.3% gain moving from 1 083.70 USD/oz. to 1 096.22 USD/oz.
Palladium continued to recover closing the day at 2 699.17 USD/oz.
Oil prices continued on its upward movement on Thursday with Brent Crude moving from 72.23 to closing at 73.79 USD.
USOil breached and broke the $70.00 mark
The September 10-year Bund future is down -3 ticks, Treasury futures are slightly underperforming. DAX and FTSE 100 futures meanwhile are up 0.3% and US futures are posting similar gains.
Earnings from Danske Bank, American Express and Honeywell are expected to be released today.
What to watch today
U.K. Retail Sales, Germany Manufacturing Purchasing Managers Index (PMI), U.K. Manufacturing Purchasing Managers Index (PMI), U.K. Composite Purchasing Managers’ Index (PMI), U.K. Services Purchasing Managers Index (PMI), Russia Interest Rate Decision, Canada Core Retail Sales.
All prices captured are taking from the previous business day. The material is provided for a general information purpose and do not constitute an independent investment research. Nothing in this market wrap contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance.