The JSE all share index saw a recovery closing Friday on 66 385.57 with a 1.8% gain from its opening price of 65 243.50
On Friday the South African equity markets saw Ellies Holdings Ltd. being the biggest loser of the day with a -20.00% loss moving from R0.15 to close the day at R0.12, whilst eMedia Holdings Ltd. saw a 37.45% gain moving from R2.51 to R3.45, making it the biggest winner in the equity market.
South Africa remains under the alert level 4 lockdown restrictions with some adjustments made until the 25 July 2021.
- The sale of Alcohol is still not allowed.
- Curfew times remain the same (21:00 – 04:00).
- Mass gatherings are still prohibited.
- Restaurants are allowed to open for sit-ins with tight restrictions limited to only 50 people.
- Gyms are open but must operate under strict restrictions.
Violent protests to free former President Jacob Zuma spread like wild fire, Johannesburg has seen a number of violent protests in a few areas within the metropolitan.
The Rand slightly recovered against the Greenbag on Friday closing business day at R14.20 from its opening of R14.34.
Gold moved from its opening of 1 802.83 to close Friday business day at 1 808.32 USD/oz.
Platinum saw some recovery on Friday moving to 1 104.67 USD/oz. from its open price of 1 078.97 USD/oz resulting in a 2.4% gain.
Palladium took a knock and closed Friday’s business day on 2 801.63 USD/oz.
Oil prices continued to recover on Friday with Brent Crude closing ZA business day at 75.55 from its opening of 74.12 USD.
The earnings season is underway with JPMorgan, Goldman, Citigroup and Wells Fargo set to release their reporting.
Reuters reported China will cut the amount of cash that banks must hold as reserves, releasing around 1 trillion yuan ($154.19 billion) in long-term liquidity to underpin its post-COVID economic recovery that is starting to lose momentum. The People’s Bank of China said on its website it would cut the reserve requirement ratio for all banks by 50 basis points (bps), effective from July 15.
The greenbag remained flat throughout Friday with the USD Index closing the day at 92.17
What to watch today
South Africa Business Confidence, Vice-President of the European Central Bank Luis De Guindos Speaks, Eurogroup Meetings, FOMC Member Williams Speaks.