South Africa
The JSE all share index closing the day at 67 452 from its opening price of 66 829.
On Tuesday the South African equity markets saw SilverBridge Holdings Ltd. (SVB) being the biggest loser of the day with a -18.86% loss moving from R0.91 to close the day at R0.74, whilst Brikor Ltd. (BIK) saw a 16.67% gain moving from R0.36 to R0.42, making it the biggest winner in the equity market.
South Africa’s unemployment rate has hit an all-time record of 34.4%. According to stats SA, 7.8 Million people are jobless.
Following the announcement made by Woolworths that the current South African operations CEO Zyda Rylands will be stepping down, Woolworths has decided to do away with the CEO position. There will be no one replacing the current CEO.
The Rand continued on its recovery trajectory against the US Dollar on Tuesday closing at R15.00 from its opening price of R15.13
Commodities
Gold slightly slipped yesterday, moved from 1 805.4USD/oz to 1 802.90 USD/oz.
Copper gained by 0.8% closing at 9 378.50 USD/t. from its opening price of 9 301.45 USD/t.
Platinum took a slight knock with -0.4% loss, closing the day at 1 014.24 USD/oz from its opening price of 1 018.06 USD/oz.
Oil prices continued to recover on Tuesday with Brent Crude moving from 68.75 to closing at 71.05 USD, Resulting in a 3.3% gain.
Global Markets
US Dollar Index recovers from lows at 92.81 and holds at 93.00. US markets generally moved higher with the USA500 with a +0.15% gain closing at 4486. The NASDAQ was the biggest mover with a +0.52% gain.
The September 10-year Bund future is down -6 points and the U.S. futures are also slightly down. DAX and FTSE 100 futures are currently down -0.075% and up 0.035% respectively.
USOil gained again moving to $67.40, before returning to $67.00
Things to watch today
U.S. Crude Oil Inventories, U.S. Core Durable Goods Orders MoM, Germany Ifo Business Climate Index
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.
