Friday, 30 July 2021: iDaily Market Wrap

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Market Performance

The JSE all share index slightly recovered closing the day at 69 565 from its opening price of 68 526

On Thursday  the South African equity markets saw Oando plc being the biggest loser of the day with a -26.32% loss moving from R0.19 to close the day at R0.14, whilst Randgold & Exploration Co Ltd saw a 96.00% gain moving from R0.75 to R1.47, making it the biggest winner in the equity market.

Anglo American has joined the mines that have been reporting record high numbers and intends to return $2 Billion to its shareholders. In a News Release, Mark Cutifani, Chief Executive of Anglo American, said: “We entered this period of strong demand and prices for many of our products with a strong balance sheet and we are therefore in a position to deliver both the investment in our sequence of margin-enhancing growth projects and also return excess cash to our shareholders. Today’s additional return of $2 billion demonstrates our applied capital discipline and the Board’s confidence in the business.”

Commodities

Gold continued on its recovery moving from 1 807.11 USD/oz to 1 828.17 USD/oz.

Platinum slightly slipped moving from 1 068.68 USD/oz. to 1 063.67 USD/oz. resulting in a -0.5% loss

Palladium saw some recovery yesterday closing the day at 2 658.17 USD/oz.

Oil prices continued on its recovery trajectory on Thursday with Brent Crude moving from 74.74 to closing at 76.05 USD.

Global Markets

Reporting
Pfizer Inc. Q2 revenue rises by 92% to $19 billion
AbbVie Inc. is scheduled to report earnings on July 30 before the market open.

Things to watch today:
Germany Gross Domestic Product (GDP), Eurozone Consumer Price Index (CPI), Eurozone Unemployment Rate, South Africa Trade Balance, Canada Gross Domestic Product (GDP)

Disclaimer
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.



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