The JSE all share index took another knock yesterday closing Wednesday on 66 249 with a -0.5% loss since its opening price of 66 549.
On Wednesday the South African equity markets saw Visual International Holdings Ltd. being the biggest loser of the day with a -33.33% loss, whilst Imbalie Beauty Ltd. saw a 50.00% gain moving from R0.02 to R0.03, making it the biggest winner in the equity market.
Global credit ratings agency Moody’s Investors Service downgraded the City of Tshwane taking the sovereign rating of South Africa’s administrative capital by four notches. The metro’s Global Scale Issuer rating fell from B1 to Caa2 plunging the metro further into junk status.
The Rand took a gain against the US Dollar on Wednesday closing at 14.27 from its opening of 14.34.
Gold moved from its opening of 1 778.52 to close at 1 761.22 USD/oz. giving it a -0.1 % loss.
Platinum slipped on Wednesday moving to 1 072.50 USD/oz. from its open price of 1 095.50 USD/oz resulting in a -2.1% loss.
Palladium saw a slight move from 2 682.00 and closing the day at 2 780.50 USD/oz on Wednesday.
Oil (Brent Crude) closed at 74.76 from its opening of 74.62 USD.
UK 100 and GER30 Futures are up by 0.3%.
According to Reuters Adidas sports brands has drawn up a shortlist of bidders for its Reebok brands and it is expected the brand will sell for US$1.2 billion.
Investors are still concerned about the rapid spread of the Delta variant of the SARS–COV- 2 stain. Evidence suggest that in countries with a higher vaccination rate the wave may be slowed down.
What to watch today
Germany Manufacturing Purchasing Managers Index (PMI), Bank of England Governor Bailey Speaks, U.K. Manufacturing Purchasing Managers Index (PMI), South Africa Manufacturing Purchasing Managers Index (PMI) U.S. ISM Manufacturing Purchasing Managers Index (PMI).