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Think Daily 03 August 2021

Lesego Mthombothi Lesego Mthombothi 03/08/2021
Think Daily 03 August 2021 Think Daily 03 August 2021
Think Daily 03 August 2021 Lesego Mthombothi
In Monday’s trading session in the local markets, the Top40 closed the day down by 0.24%. The Resources 10 sector went down by 0.22%, the Financial 15 went up by 0.07%, the Industrial 25 went down by 0.35% and lastly the South African Listed Property index dropped by 0.42%. The Rand traded at R14.44 against the United State Dollar, R20.05 against the Great British Pound, and R17.13 against the Euro.
This morning, the Tencent (0700) share price plummeted by 10% after the crack down that China’s government has had in recent weeks had now landed on the company. The Chinese state media compared online gaming to a drug, using the word “opium”. The article also called for further restrictions on the industry to prevent dependence and other harmful impacts on children. The share price has rebounded slightly and is only down 6.27% at the writing of this.
 
Royal Bafokeng Platinum Ltd. (RBP) also reported the companies six months earning results, which ended 30 June 2021 and the company’s revenue had increase by 108.1% compared to the same period last year. We had also witnessed MTN Ltd. (MTN) publish a trading statement for the first half of the year, which ended on 30 June 2021. On the back of the news, the stock climbed 5.59% and reached prices that the company last traded in July 2019.



Figure 1:MTN Daily chart.

On the commodities front, the Brent Crude oil is trading at $72.64 a barrel and WTI Crude oil traded at $71.04 a barrel. Gold Spot price is currently trading at $1809 Platinum Spot is now trading at $1055.02 and lastly, Palladium Spot price is at $2674.56.
Across the globe, the S&P 500 closed the day down 0.18%, Dow Jones closed down 0.28% and the Nasdaq had a 0.02% climb. The FTSE 100 closed down by 0.65% and the DAX was down 0.61% and CAC40 was down 0.32%. In the Asian markets, the Nikkei 225 is down 0.50% and the Hang Seng is currently up by 0.44%.
Things to look out for today in the trading day, Alibaba (BABA) and LYFT (LYFT) are expected to release their results.
 
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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