In Tuesday’s trading session in the local markets, the Top 40 closed the day up by 0.33%. The Resources 10 sector went down by 1.81%, the Financial 15 went up 1.71%, the Industrial 25 went up by 1.15% and lastly the South African Listed Property index up by 0.16%. The rand traded at R16.09 against the United State Dollar, R19.84 against the Great British pound, and R16.96 against the Euro. AngloGold Ashanti had a drop in the share price to a level last seen in October 2021.
Figure 1: AngloGold Ashanti intraday share price action
On the commodities front, the Brent Crude oil is trading at $105.09 a barrel and WTI Crude oil is traded at $102.25 a barrel. Gold Spot price is currently trading at $1845.09. Platinum Spot is now trading at $981 and lastly, Palladium Spot price is at $2092. On the oil front, the EU has proposed to impose an embargo on Russian oil, but a vote has been delayed as some European countries voiced concerns that their economies could suffer.
Across the globe, the S&P 500 closed the day up 0.25%, Dow Jones closed down 0.26% and the Nasdaq had a 1.3% climb. The FTSE 100 closed up 0.37% and the DAX was up 1.15% and CAC40 was up 0.51%. In the Asian markets, the Nikkei 225 is up 0.18% and the Hang Seng is currently up 1.32%. Mega-cap technology names outperformed the market, with strong gains from Apple (1.6%), Microsoft (1.9%) and Alphabet (1.7%).
Today, we are expecting the United States to report April’s core CPI numbers at 14:30 and the crude oil inventories at 16:30.
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