South Africa
The JSE all share index closing the day at 63 353 from its opening price of 62 362.
On Wednesday the South African equity markets saw Oando plc (OAO), being the biggest loser of the day with a -20.00% loss moving from R0.25 to close the day at R0.20, whilst Standard Bank Group Ltd. (SBKP) saw a 17.28% gain moving from R0.81 to R0.95, making it the biggest winner in the equity market.
The Rand closed yesterday’s business day with a slight recovery against the US Dollar, moving from R14.84 to R14.73
South African Airways (SAA) find their wings and are set to take their first flight today. You will be able to fly using SAA between Johannesburg and Cape Town.
You can now collect your R350 SRD grant at Pick n Pay and Boxer stores. Recipients who qualify will be notified via SMS to collect their grant at the respective retailer.
Commodities
Gold continued to recover on Wednesday with a slight move from 1 774.51 USD/oz to 1 775.49 USD/oz.
Platinum continued on its recovery trajectory yesterday, closing at 1 003.69 USD/oz from its opening price of 957.23 USD/oz.
Oil prices continued to recover, with Brent Crude moving from 74.36 USD to closing at 75.48 USD.
Global Markets
The DAX, sometimes referred to as the German 30, has added 10 more companies making it the German 40. These additions are intended to stabilize the index after seeing violent volatility when Covid-19 cases broke out and forces governments to enter into lockdowns across the world.
Troubled Chinese property giant, Evergrande has agreed to a plan on how they will repay interest for one of its key bonds which puts ease on Asian investors because the company avoided defaulting.
Things to watch today
There is a lot of economic data such as interest rates decision, gross domestic product and manufacturing purchasing managers’ index coming out today. Many central banks are releasing their target range for interest rates and possible hints on where the next rates adjustments will be made.
South Africa Prime Rate, South Africa Interest Rate Decision, Canada Core Retail Sales, U.S. Initial Jobless Claims, Bank of England (BoE) Monetary Policy Committee (MPC) Meeting Minutes, U.K. Interest Rate Decision, U.K. Services Purchasing Managers Index (PMI), U.K. Manufacturing Purchasing Managers Index (PMI), U.K. Composite Purchasing Managers’ Index (PMI), Germany Manufacturing Purchasing Managers Index (PMI), Swiss National Bank Monetary Policy Assessment, Switzerland Interest Rate Decision, Spain 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.
