In Monday’s trading session in the local markets, the Top 40 closed the day up by 0.81%. The Resources 10 sector went up by 1.53%, the Financial 15 went up 1.26%, the Industrial 25 went up by 0.06% and lastly the South African Listed Property index was up by 1.28%. The rand traded at R16.18 against the United State Dollar, R19.88 against the Great British pound, and R16.87 against the Euro. In yesterday’s trading session, Life Healthcare traded at the company’s 52 week low and declined a staggering 5.59%, following the release of a trading statement which indicated an expected to show a decrease of more than 20% in EPS from continuing and discontinued operations. An interesting thing that happened this morning is Pick N Pay reported the company’s annual report, showing strong numbers.
Figure 1: Life Healthcare intraday share price action
On the commodities front, the Brent Crude oil is trading at $113.09 a barrel and WTI Crude oil is traded at $114.54 a barrel. Gold Spot price is currently trading at $1829.86. Platinum Spot is now trading at $949 and lastly, Palladium Spot price is at $2017.50. The oil price reached the highest close since March 23, due to a proposed EU ban on Russian oil, a move that would tighten global supply further. On Monday, EU foreign ministers failed to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being “held hostage by one member state.”
Across the globe, the S&P 500 closed the day down 0.39%, Dow Jones closed up 0.08% and the Nasdaq had a 1.16% drop. The FTSE 100 closed up 0.63% and the DAX was down 0.45% and CAC40 was down 0.23%. In the Asian markets, the Nikkei 225 is currently up 0.45% and the Hang Seng is currently up 2.9%. In the United States, Growth-oriented technology, consumer cyclical and communication services stocks led to the decline. In Asia, Shanghai plans to gradually reopen after spending more than six weeks in lockdown, as the latest data showed a sharp contraction in Chinese economic activity. Fresh data showed the jobless rate edged lower to levels not seen since 1974 but real wage growth fell, pointing to another squeeze on UK living standards. On the corporate front, Vodafone reported a 5% rise in its 2022 financial year core earnings
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.
Learn and earn more today.
Visit our Education Centre