Think Daily: Naspers/Prosus' Joyous Day, Resources Sector Up

  • Market Overview

In Thursday’s trading session in the local markets, the Top 40 closed the day up 3.46%. The Resources 10 sector went up by 5.21%, the Financial 15 went up by 2.54%, the Industrial 25 went up by 2.76% and lastly the South African Listed Property index was up by 1.53%. The rand traded at R16.71 against the United State Dollar , R20.07 against the Great British pound , and R16.97 against the Euro . Naspers (JO: NPNJn ) and Prosus (JO: PRXJn ) had a joyous day in the market as both the companies' share prices skyrocketed by 8.9% and 8.29%, respectively. The resources sector had also had a great move to the upside with the index closing the day up 5.21%, with South32 (JO: S32J ), Glencore (LON: GLEN ) and Anglo American PLC’s (JO: AMSJ ) share prices climbed by more than 7%.

Naspers’ intraday price action

Figure 1: Naspers’ intraday price action

On the commodities front, Brent Crude oil is trading at $104.53 a barrel and WTI Crude oil is trading at $102.02 a barrel. Gold Spot price is currently trading at $1742.35. Platinum Spot is now trading at $875.50 and lastly, Palladium Spot price is at $2002.50.

Across the globe, the S&P 500 closed the day up 1.5%, Dow Jones closed the day up 1.12% and the Nasdaq had a 2.16% climb. The FTSE 100 closed up 1.14%, the DAX was up 1.97%, and CAC40 was up 1.6%. In the Asian markets, the Nikkei 225 is currently up 0.1% and the Hang Seng is currently up 0.17%.

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