In Friday’s trading session in the local markets, the Top 40 closed the day up 0.54%. The Resources 10 sector went up by 1.82%, the Financial 15 went up by 0.79%, the Industrial 25 went down by 0.24% and lastly the South African Listed Property index was up by 1.47%. The rand traded at R16.89 against the United State Dollar, R20.30 against the Great British pound, and R17.17 against the Euro.
Figure 1: Naspers’ intraday price action
On the commodities front, Brent Crude oil is trading at $105.26 a barrel and WTI Crude oil is traded at $102.87 a barrel. Gold Spot price is currently trading at $1740.60. Platinum Spot is now trading at $882.50 and lastly, Palladium Spot price is at $2137. Rising virus cases throughout China and the discovery of a new Omicron subvariant in Shanghai also raised fears about the potential for wider lockdowns.
Across the globe, the S&P 500 closed the day down 0.08%, Dow Jones closed the day down 0.15% and the Nasdaq had a 0.14% climb. The FTSE 100 closed up 0.1%, the DAX was up 1.34%, and CAC40 was up 0.44%. In the Asian markets, the Nikkei 225 is currently up 1.11% and the Hang Seng is currently down 3.05%. JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) are scheduled to report earnings this week. The June Consumer Price Index is to be released on Wednesday. The Nord Stream 1 pipeline which transports 55 billion cubic meters a year of gas from Russia to Germany will undergo maintenance from July 11 to 21.