In yesterday’s trading session in the local markets, the Top40 had a steep decline, to close the day down by 2.31%, with all sectors down. The Industrial 25 sector down by 1.03 %, Financial 15 followed with a decline of 0.54% and Resources was down by 4.4%. Interesting price actions was from Distell Group (DGH), which continued its upward trend after news was released on Tuesday that Heineken is considering the purchase of the company. The share price moved 6.13% in yesterday’s trading session to reach levels last seen in June 2017. Capitec continues its momentum and as the share price keeps reaching new highs and reached the high of R1636.15. The Rand closed at R14.02 against the United State Dollar, R19.85 against the Great British Pound and R17.12 against the Euro.
Figure 1: Distell Group intraday chart
On the commodities front, the Brent Crude oil price went down by 2.42% to $67.03 a barrel and WTI Crude oil dropped to $63.66 a barrel. Gold Spot price climbed to trade at $1879.50, Platinum Spot price trading at $1198.50.
Across the globe, the S&P 500 index dropped by 0.29%. The Dow Jones index had dropped by 0.48% and the Nasdaq went up by 0.15%. The FTSE 100 was down by 1.19% and the DAX dropped by 1.77% and CAC40 followed and was down by 1.43%. In the Asian markets, the Nikkei 225 was up 0.15% and the Hang Seng is currently down by 0.19%.
Things to look out for this morning.
This morning we had Tiger Brands Ltd (TBS) release their 6 months results. Elsewhere, Bitcoin had a rollercoaster of a ride to drop by 30% in a flash crash and now is back to trading levels around $40’000 a unit.
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