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Think Daily 17 May 2022

Lesego Mthombothi Lesego Mthombothi 17/05/2022
Think Daily 17 May 2022 Think Daily 17 May 2022
Think Daily 17 May 2022 Lesego Mthombothi

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.

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Meet our contributors
Carl Capolingua
×
Carl Capolingua
Market Analyst, Melbourne

Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions. Specialising in Australian and US stock markets in particular, Carl uses a top-down approach to assess the global macro picture before using both technical and fundamental techniques to select stocks. He regularly appears as an expert commentator on a number of media outlets throughout the Asia-Pacific region.
 
 
 

Lesego
×
Lesego Mthombothi
Market Research Analyst, South Africa

Lesego Mthombothi is an experienced market research analyst and investment professional who proudly holds an honours degree in investment management and completed her CFA level 1.
 
 
 

Mahmoud Alkudsi
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Mahmoud Alkudsi
Chief Markets Analyst, MENA

Mahmoud is a market analyst, with over a decade of experience in financial markets. He follows main market movers and tracks their effect on the price chart. Mahmoud mixes technical and fundamental tools with a deeper focus on the technical side, and with his wide experience in providing educational and guidance materials to all levels of traders, he helps them in making informed trading decisions. Before joining ThinkMarkets, Mahmoud was head of market research departments in different reputed financial companies, where he provided market analysis for a variety of asset classes, including FX, equities, indices, and commodity futures. As an experienced market commentator, he was hosted by too many print and broadcast media, including not limited to Sky News Arabia, France 24, Alarabyia, Alsharq-Bloomberg, and CNBC Alarabyia to discuss key risk events their clear impact on the price action. Mahmoud holds a Master of Business Administration (MBA) from Cardiff Metropolitan University of Wales, UK, and speaks Arabic, English, and Spanish.

Carl Capolingua
Carl Capolingua
Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions.
Lesego
Lesego Mthombothi
Lesego Mthombothi is an experienced market research analyst and investment professional who proudly holds an honours degree in investment management and completed her CFA level 1.
Mahmoud Alkudsi
Mahmoud Alkudsi
Mahmoud is a market analyst with over a decade of experience in financial markets. Mahmoud mixes technical and fundamental tools with a deeper focus on the technical side, and has experience in providing guidance to all levels of traders.
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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