In Thursday’s trading session in the local markets, the Top 40 closed the day down 2.35%. The Resources 10 sector went down by 3.06%, the Financial 15 went down by 3.17%, the Industrial 25 went down by 1.42% and lastly the South African Listed Property index was down by 2.46%. The rand traded at R16.28 against the United State Dollar, R19.83 against the Great British pound, and R17.06 against the Euro.
Figure 1: Sibanye’s intraday price action
Please note that there will be four companies that went ex-div on the 29th of June 2022, the list is below:
On the commodities front, the Brent Crude oil is trading at $108.71 a barrel and WTI Crude oil is traded at $105.22 a barrel. Gold Spot's price is currently trading at $1794.60. Platinum Spot is now trading at $886 and lastly, Palladium Spot's price is at $1905. On the oil front, OPEC+ agreed to stick to its output strategy after two days of meetings, increasing production by 648,000 barrels per day in July and August. US President Joe Biden will travel to the Middle East later this month to urge Saudi Arabia and the UAE to increase supplies further but reports earlier this week suggested the two major producers are at, or very close to, near-term capacity limits.
Across the globe, the S&P 500 closed the day down 0.07%, Dow Jones closed the day up 0.27% and the Nasdaq had a 0.18% climb. The FTSE 100 closed down 1.96% and the DAX was down 1.69% and CAC40 was down 1.8%. In the Asian markets, the Nikkei 225 is currently down 1.73% and the Hang Seng is not trading today due to a bank holiday. Starting in the United States, the S&P 500 closed out its worst first-half performance in decades, as concerns over heightened inflation and the prospects of a recession continued to weigh on markets. At 11 am the Eurozone will be reporting the YoY CPI numbers and the United States will provide the Manufacturing PMI numbers at 4 pm.
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