South Africa
The JSE all share index slightly recovered on Friday closing the day at 68 674 from its opening price of 68 371.
On Friday the South African equity markets saw Conduit Capital Ltd. being the biggest loser of the day with a -19.05% loss moving from R0.63 to close the day at R0.51, whilst York Timber Holdings Ltd. saw a 16.67% gain moving from R3.00 to R3.50, making it the biggest winner in the equity market.
The South African Social Security Agency (SASSA) has opened Whats app applications for social distress grant to try speed up the process. The first payments are still expected to be made in the last week of August 2021. Click here to find out how you can apply
Former president Jacob Zuma’s trail has been postponed to 09 September. The court has ordered Zuma’s medical record by 20 August.
The Rand continued to take a knock against the US Dollar on Friday closing at R14.63 from its opening price of R14.52.
Commodities
Gold lost some ground moving from 1 804.41 USD/oz to 1 763.03 USD/oz.
Platinum moved from 1 007.85 USD/oz. to 983.58 USD/oz.
Palladium took closing Friday at 2 627 USD/oz from 2 661.83 USD/oz.
Oil prices slightly took a knock on Friday with Brent Crude moving from 71.29 to closing at 70.70 USD.
Global Markets
GER30 and UK100 are slightly lower, as well as US futures.
10-year Bund future is up 13 ticks and continuing to outperform other treasuries whilst the US 10-year rate has corrected -1.0 bp to 1.31%
USOIL prices reversed as fears that the Delta variant could cause a slow-down in demand due to worries of the infection rate of the virus. USOIL is currently at $67.27 per barrel with Brent Crude closing Friday at 70.70 USD.
Things to watch today
BCB Copom Meeting Minutes, Germany ZEW Economic Sentiment, South Africa Manufacturing Production YoY, EIA Short-Term Energy Outlook.
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.
