Think Daily 21 October 2021

In Wednesday’s trading session in the local markets, the Top 40 closed the day up by 0.26%. The Resources 10 sector went down by 0.13%, the Financial 15 went down by 0.10%, the Industrial 25 went up by 0.59% and lastly the South African Listed Property index down by 1.48%. The Rand traded at R14.41 against the United States Dollar, R19.93 against the Great British pound, and R16.79 against the Euro. In the early moments this morning, several mining companies provided production reports for the third quarter.

The list of companies includes Anglo American Platinum Ltd, Anglo American PLC, Kumba Iron Ore Ltd and Sasol Ltd. Anglo American Platinum reported an increase of 54% in PGM sales, Anglo American PLC reported an increase in Q3 production in all materials, except for Copper and coal, when compared to the similar period. Whereas Kumba Iron Ore Ltd reported a decrease in total sales despite an 11% in total production.

Lastly, Clicks reported the company’s annual results, along with the declaration of cash dividends of 490 cents per share and the group reported a turnover increase of 10.2%.

On the commodities front, the Brent Crude oil is trading at $84.61 a barrel and WTI Crude oil is traded at $83.15 a barrel. Gold Spot price is currently trading at $1783.13; Platinum Spot is now trading at $1050.32 and lastly, Palladium Spot price is at $2076.03. WTI crude oil price remains close to 7-year highs.

Across the globe, the S&P 500 closed the day up 0.25%, Dow Jones closed up 0.39% and the Nasdaq had a 0.19% drop. The FTSE 100 closed up 0.08% and the DAX was up 0.05% and CAC40 was down 0.54%. In the Asian markets, the Nikkei 225 is up 0.14% and the Hang Seng is also currently up 1.24%. Earnings season continued in yesterday’s trading session and had the Dow Jones hit a fresh intraday record. Tesla released the company’s results with record earnings and revenue.