The JSE all share index closed Tuesday with a slight recovery closing business day on 65 724.68 with a 1.4% gain from its opening price of 64 804.74.
On Tuesday the South African equity markets saw Acsion Ltd. being the biggest loser of the day with a -18.13% loss moving from R4.91 to close the day at R4.02, whilst eMedia Holdings Ltd saw a 28.31% gain moving from R2.72 to R3.49, making it the biggest winner in the equity market.
In a Statement Release the FCSA has noted the concerns of business men and women who suffered due to the recent unrest, looting and damage to businesses. According to the FSCA, the extant of the damage has not been confirmed largely due to new claims being reported causing the figures to be adjusted as they come. The FSCA has received confirmation from SASRIA SOC Limited (SASRIA) that claims where relevant cover is in place will be settled. The FSCA requests all SASRIA policyholders who have been affected by the recent unrests to submit their claims directly to their insurers, who will engage with SASRIA on the specific claims.
Truworths International Limited surprisingly has reported a 5.5% sales growth in a business briefing yesterday. They further reported that 57 stores in the group have been negatively affected by the recent unrests and rioting that has been seen across the country and 160 stores where indirectly affected due to the precautionary measures taken to temporarily close done the stores resulting in a loss of revenue. The group believes that most of the lost of merchandise, damaged infrastructure and the loss of revenue can be restored largely by the sufficient insurance measures that where in place to mitigate these losses.
The Rand slightly slip against the Greenbag on Tuesday closing business day at R14.58 from its opening of R14.57.
Gold slightly slipped on Tuesday closing business day at 1 810.36 USD/oz.
Platinum continued on its downward movement moving to 1 069.42 USD/oz. from its open price of 1 077.34 USD/oz. resulting in a -0.7% lose.
Palladium continued taking a knock on Tuesday closing business day on 2 601.42 USD/oz.
Oil prices slightly recovered on Tuesday with Brent Crude closing business day at 69.35 from its opening of 68.62 USD.
Global markets remain cautious and keeping an eye on the Delta Variant virus as it continues to spread across the world.
What to watch today
Australia Retail Sales, South Africa Core Consumer Price Index (CPI), South Africa Consumer Price Index (CPI), South Africa Consumer Price Index (CPI), U.S. Cushing Crude Oil Inventories.