South Africa
The JSE all share index continued on its recovery trajectory on Wednesday closing the day at 69 617 from its opening price of 69 602.
On Wednesday the South African equity markets saw Rex Trueform Group Ltd. (RTN) being the biggest loser of the day with a -20.91% loss moving from R8.99 to close the day at R7.91, whilst Kibo Energy PLC (KBO) saw a 33.33% gain moving from R0.08 to R0.06, making it the biggest winner in the equity market.
Mango Airlines SOC Ltd has been put into voluntary business rescue. By being on voluntary business rescue, this will allow Mango to provide an input in the appointment of the business rescue practitioners.
Nedbank’s Interim Profits are up by almost 150%.
The South African Social Security Agency (SASSA) has been experiencing system crashes due to extremely high Covid-19 grant application volumes. Sassa continues to urge applicants to apply using alternative application methods such as the https://govchat.app/login and on Facebook messenger https://www.facebook.com/govchat.org
The Rand slightly recovered by 1.0% against the US Dollar on Wednesday closing at R14.66 from its opening price of R14.80.
Commodities
Commodity prices perfumed better yesterday with the leading commodities seeing a slight recovery on Wednesday.
Gold gained by 1.3% moving from 1 728.93 USD/oz to 1 751.70 USD/oz.
Platinum recovered yesterday moved from 1 000.31 USD/oz. to 1 023.49 USD/oz. resulting in a 2.3% gain.
Palladium recovered on Wednesday closing the day at 2 643.5 USD/oz.
Oil prices continued to recover on Wednesday with Brent Crude moving from 70.63 to closing at 71.44 USD.
Global Markets
On Tuesday hackers pulled one of the biggest crypto currency heist ever, it is reported that the Hacker stole $613 million in digital coins from the token-swapping platform Poly Network.
UK100 gapped down to 7185 after the 18-month peak at 7235. GER30 and UK100 futures are up 0.9% and 0.1% respectively, with the US future slightly lower.
USOIL is trading at $69.26 per barrel.
Things to watch today
U.K. Manufacturing Production MoM, U.K. Gross Domestic Product (GDP) YoY, U.K. Monthly Gross Domestic Product (GDP) 3M/3M Change, South Africa Gold Production YoY, South Africa Mining Production, OPEC Monthly Report, U.S. Initial Jobless Claims.
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.
