Think Daily 6 December 2022

The chairman of the ruling ANC party denied speculation that President Cyril Ramaphosa was considering resigning over accusations he may have violated the constitution. In Monday’s trading session in the local markets, the Top 40 closed the day up 0.42% and the Resources 10 sector went up by 1.03%, the Financial 15 went up by 1.28%, the Industrial 25 went down by 0.1% and lastly the South African Listed Property index was down 0.82%. The Rand traded at R17.49 against the Dollar, R21.30 against the Pound, and R18.35 against the Euro. 



Figure 1:  Kumba Iron Ore's intraday chart (Source: ThinkTrader Web)

On the commodities front, Brent Crude oil is trading at $83.30 a barrel and WTI Crude oil is trading at $77.57 a barrel. Gold is currently trading at $1768.55. Platinum is now trading at $992.43 and lastly, Palladium is at $1882.25. On the oil front, China has been dialling back virus curbs following widespread protests, with major cities scrapping testing requirements thereby bolstering the demand outlook for oil. 
Across the globe, the S&P 500 closed the day down 1.79%, the Dow Jones closed the day down 1.4% and the Nasdaq had a 1.73% drop. The FTSE 100 was down 0.03%, the DAX was up 0.27% and CAC40 was down 0.17%. In the Asian markets, the Nikkei 225 is currently up 0.24% and the Hang Seng is currently down 0.86%. 

SA Corporate Diary 
 

Company	Last Day to Trade	EX Date	Pay Date
Afine Investments	6/12/2022	7/12/2022	12/12/2022
Balwin Prop	6/12/2022	7/12/2022	12/12/2022
Caxton & CTP	6/12/2022	7/12/2022	12/12/2022
Coronation	6/12/2022	7/12/2022	12/12/2022
Dipula Income Fund	6/12/2022	7/12/2022	12/12/2022
Famous Brands	6/12/2022	7/12/2022	12/12/2022
ISA Holdings	6/12/2022	7/12/2022	12/12/2022
Life Healthcare	6/12/2022	7/12/2022	12/12/2022
Spar	6/12/2022	7/12/2022	12/12/2022
Tradehold	6/12/2022	7/12/2022	12/12/2022