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Think Daily 30 November 2022

Lesego Mthombothi Lesego Mthombothi 30/11/2022
Think Daily 30 November 2022 Think Daily 30 November 2022
Think Daily 30 November 2022 Lesego Mthombothi

The unemployment rate in South Africa decreased to 32.9% in Q3 of 2022, from 33.9% in Q2, as the manufacturing, trade, construction and transport industries recorded a boost in jobs. The expanded definition of unemployment – which includes discouraged work seekers – also showed improvement in Q3 to 43.1%, compared to 44.1% in Q2. In Tuesday’s trading session in the local markets, the Top 40 closed the day down 0.27% and the Resources 10 sector went up by 0.81%, the Financial 15 went down by 1.66%, the Industrial 25 went down by 0.35% and lastly, the South African Listed Property index was down 0.33%. The Rand traded at R17.00 against the Dollar, R20.35 against the Pound, and R17.58 against the Euro. Glencore’S bullish momentum continues as the share price reached new all-time highs in the trading session.



Figure 1:  Glencore Historical Chart (Source: ThinkTrader Web)

On the commodities front, Brent Crude oil is trading at $84.68 a barrel and WTI Crude oil is trading at $78.63 a barrel. Gold is currently trading at $1754.10. Platinum is now trading at $1006.51 and lastly, Palladium is at $1874.50. 

Across the globe, the S&P 500 closed the day down 0.16%, the Dow Jones closed the day up 0.01% and the Nasdaq had a 0.73% drop. The FTSE 100 was up 0.79%, the DAX was up 0.12% and the CAC40 was up 0.35%. In the Asian markets, the Nikkei 225 is currently down 0.21% and the Hang Seng is currently up 0.58%. On the economic data side, the Eurozone is set to release the CPI numbers for the region with a forecast of 10.4%, down from the previous print of 10.6%. The United States is also going to release data today for the Q3 GDP numbers at 15:30, Pending home sales at 17:00, Crude Oil Inventories at 17:30 and finally, the Federal Reserve Chair, Jeremy Powell is set to speak at 20:30.

SA Corporate Diary 

Company Name Last day to trade EX Date  Pay Date
Datatec 29/11/2022 30/11/2022 05/12/2022
Grand Parade Investments 29/11/2022 30/11/2022 05/12/2022
Invicta Holdings 29/11/2022 30/11/2022 05/12/2022
Ninety One Limited 29/11/2022 30/11/2022 05/12/2022
Pan African Resources 29/11/2022 30/11/2022 05/12/2022
Pick n Pay 29/11/2022 30/11/2022 05/12/2022
Raubex 29/11/2022 30/11/2022 05/12/2022
Stor-age 29/11/2022 30/11/2022 05/12/2022
Textainer 29/11/2022 30/11/2022 05/12/2022
Transaction Capital 29/11/2022 30/11/2022 05/12/2022
Vodacom 29/11/2022 30/11/2022 05/12/2022
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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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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