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Think Daily 29 June 2022

Lesego Mthombothi Lesego Mthombothi 29/06/2022
Think Daily 29 June 2022 Think Daily 29 June 2022
Think Daily 29 June 2022 Lesego Mthombothi

In Tuesday’s trading session in the local markets, the Top 40 closed the day up 0.43%. The Resources 10 sector went up by 0.89%, the Financial 15 went down by 0.22%, the Industrial 25 went up by 0.31% and lastly the South African Listed Property index was down by 0.14%. The rand traded at R16.05 against the United State Dollar, R19.58 against the Great British pound, and R16.90 against the Euro.  


Figure 1: Nasdaq’s intraday index level movement 
 

Please note that there will be four companies that will be going ex-div on the 29th of June 2022, the list is below: 


 

On the commodities front, the Brent Crude oil is trading at $116.93 a barrel and WTI Crude oil is traded at $111.01 a barrel. Gold Spot price is currently trading at $1817.88. Platinum Spot is now trading at $923 and lastly, Palladium Spot price is at $1906.50. On the oil front, OPEC+ is meeting today, where the group is expected to stick to its policy of modest output increases. Meanwhile, G7 leaders agreed to explore a price cap on Russian oil aimed at depleting Moscow's war chest. 
 

Across the globe, the S&P 500 closed the day down 2.01%, Dow Jones closed the day down 1.56% and the Nasdaq had a 3.09% drop. The FTSE 100 closed up 0.9% and the DAX was up 0.35% and CAC40 was up 0.64%. In the Asian markets, the Nikkei 225 is currently down 0.91% and the Hang Seng is currently down 2.26%. Starting in the United States, Growth-oriented technology shares led to the decline of Nasdaq, while energy firms outperformed the market as oil prices rallied. US consumer confidence fell to a 16-month low in June amid persistent inflation worries, while near-term expectations sank to a near-decade low. The consumer confidence index in Japan dropped to an 18-month low of 32.1 in June of 2022 from May’s three-month high of 34.1, amid the ongoing global uncertainty. Retail sales in Australia rose by 0.9% month-over-month to another record level of AUD 34.23 billion in May 2022, topping market forecasts of 0.4% and after a final 0.9% gain in April, a flash reading showed. 

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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