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Think Daily October 2021

Kearabilwe Nonyana Kearabilwe Nonyana 20/10/2021
Think Daily October 2021 Think Daily October 2021
Think Daily October 2021 Kearabilwe Nonyana
In Tuesday’s trading session in the local markets, the Top 40 closed the day down by 0.05%. The Resources 10 sector went down by 0.53%, the Financial 15 went down by 0.36%, the Industrial 25 went up by 0.57% and lastly the South African Listed Property index up by 0.74%. The Rand traded at R14.66 against the United States Dollar, R20.14 against the Great British pound, and R17.03 against the Euro. In the morning, Pick n Pay reported the company's interim results which ended on the 29th of August 2021. The company reported that for the first half of their financial year, they had an 87% increase in profits after tax compared to the same period last year and a 90.9% increase in the comparable headline earnings per share. Lastly, they declared an interim dividend of 35.80 cents per share.

On the commodities front, the Brent Crude oil is trading at $83.68 a barrel and WTI Crude oil is traded at $81.79 a barrel. Gold Spot price is currently trading at $1775.74; Platinum Spot is now trading at $1047 and lastly, Palladium Spot price is at $2104.40. Oil prices remain high due to supply-demand imbalances in the energy markets amid high coal and natural gas prices combined with falling temperatures as Northern Hemisphere winter approaches.

Across the globe, the S&P 500 closed the day up 0.7%, Dow Jones closed up 0.51% and the Nasdaq had a 0.75% climb. The FTSE 100 closed up 0.19% and the DAX was up 0.27% and CAC40 was down 0.05%. In the Asian markets, the Nikkei 225 is up 0.14% and the Hang Seng is also currently up 1.24%. The S&P 500 was close to all-time highs after yesterday’s trading session as a few companies released Q3 results.  Johnson & Johnson rallied 2.34% on earnings beating expectations, while Procter & Gamble dropped 1.81% after announcing it will raise prices due to supply chain issues. Netflix reported earnings and subscriber growth, while United Airlines gained 2% in after-hours on travel rebound. There are several companies are looking to report results before and after the trading session in the United States such as Verizon, Biogen, Tesla, IBM and Discover. Elsewhere, the second-highest traded fund ever was the Bitcoin Futures ETF, with a turnover of almost $1 billion, on its first day of trading. Meanwhile, Bitcoin made a run at its record high of just under $65,000.

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
Fawad Razaqzada
×
Fawad Razaqzada
Market Analyst, London

Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms. He leverages years of market knowledge to provide retail and professional traders worldwide with succinct fundamental & technical analysis. Fawad also offers trading education to help shorten the learning curves of developing traders.
 
His colleagues consider him an expert at reading price action on the charts. This together with his deep understanding of economics and fundamental analysis, and trading experience, puts him in a great position to forecast short term price movements. Fawad covers a wide range of markets, including FX, commodities, stock indices and cryptocurrencies and his comments are regularly quoted by the leading financial publications such as Reuters and Market Watch. In addition to ThinkMarkets, Fawad also provides analysis and premium trade signals on his own website at TradingCandles.com.
 
 

Carl Capolingua
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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.
 
 
 

Kearabilwe
×
Kearabilwe Nonyana
Market Analyst, South Africa

Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives. His career in the financial markets has seen him hold various positions in global investment banks and global CFD and Spread betting firms. He has deep interest in using quantitative methods to help him understand and teach the fundamental drivers of asset prices.
 
 
 

Fawad Razaqzada
Fawad Razaqzada
Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms.
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.
Kearabilwe
Kearabilwe Nonyana
Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives.

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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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