The South African economy grew by 1.6% in the third quarter of 2022, from a contraction of 0.7% in the second quarter, thus missing a technical recession. From an unadjusted year-on-year perspective, the economy grew by 4.1%. The market was expecting a 0.6% quarter-on-quarter growth and 2.8% year-on-year growth. The growth was primarily driven by agriculture, finance, transport and manufacturing industries on the supply side, and higher exports and government consumption on the demand side. In Tuesday’s trading session in the local markets, the Top 40 closed the day down 0.18% and the Resources 10 sector went down by 1.07%, the Financial 15 went up by 0.92%, the Industrial 25 went down by 0.11% and lastly, the South African Listed Property index was down 0.45%. The rand traded at R17.37 against the Dollar, R21.15 against the Pound, and R18.21 against the Euro.
Figure 1: Brent Crude Oil Historical Price Chart (Source: ThinkTrader Web)
On the commodities front, Brent Crude oil is trading at $79.60 a barrel and WTI Crude oil is trading at $74.41 a barrel. Gold is currently trading at $1772.10. Platinum is now trading at $990.41 and lastly, Palladium is at $1872. On the oil front, the Brent crude oil price has gone below $80 a barrel, to the lowest price since January 2022.
Across the globe, the S&P 500 closed the day down 1.44%, the Dow Jones closed the day down 1.03% and the Nasdaq had a 2.01% drop. The FTSE 100 was down 0.03%, the DAX was up 0.27% and the CAC40 was down 0.17%. In the Asian markets, the Nikkei 225 is currently down 0.72% and the Hang Seng is currently down 0.64%. On the international front, exports from China plunged 8.7% year on year in November 2022 to USD 296.1 billion, worse than the market consensus of a 3.5% drop and following a 0.3% fall month earlier. Imports to China declined by 10.6% year on year to USD 226.2 billion in November 2022, compared with market estimates of a 6.0% fall after a 0.7% drop a month earlier.
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 |
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