In Wednesday’s trading session in the local markets, the Top 40 closed the day up by 2.36%. The Resources 10 sector went up by 2.64%, the Financial 15 went up 0.47%, the Industrial 25 went up by 2.9% and lastly the South African Listed Property index up by 0.92%. The rand traded at R16.12 against the United State Dollar, R19.78 against the Great British pound, and R16.96 against the Euro. The markets showed a strong price action to the positive side with a noticeable move from Naspers’ share price.
Figure 1: Naspers intraday share price action
On the commodities front, the Brent Crude oil is trading at $106.08 a barrel and WTI Crude oil is traded at $104.08 a barrel. Gold Spot price is currently trading at $1851.59. Platinum Spot is now trading at $993 and lastly, Palladium Spot price is at $2037.50.
Across the globe, the S&P 500 closed the day down 1.65%, Dow Jones closed down 1.02% and the Nasdaq had a 3.06% drop. The FTSE 100 closed up 1.44% and the DAX was up 2.17% and CAC40 was up 2.5%. In the Asian markets, the Nikkei 225 is currently down 0.18% and the Hang Seng is currently down 1.98%. In the United States, after the release of the inflation numbers jumped 8.3% in April, which was higher than the 8.1% forecast and still running close to a 40-year high of 8.5% logged in March and the three major indices sold off.
Today, we are expecting the United States to report April’s PPI numbers at 14:30.
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