Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
Yesterday was an interesting day at the market, with several interesting earnings and equally interesting results and market reactions. It was also a clear profit-taking day in the American market, as it jumped up massively, reaching new all-time highs, before closing at the lows. A so-called ‘bearish pinball’. The commodities, meanwhile, continue to perform well, while U.S. tech struggles, though bounces in the near future are highly likely, if the recent patterns are anything to go by.
Tencent (700)
Tencent is down by quite a bit today, dropping almost all the way down to HK$ 480. As we’ve mentioned, Tencent has its earnings next week on Wednesday (12th August), which could result in further profit-taking before the earnings. But the earnings report itself is likely to be an upward catalyst for the company, which would have a huge impact on Naspers (NPN) and Prosus (PRX).
JSE Top 40 Index (ALSI)
The Top 40 Index is currently the best way to gauge the local market trends. We see gold and PGM (Platinum Group Metals) miners making up around 20-25% of the ALSI. Banks, meanwhile, are seeing pressure, while telcos like Telkom (TKG) and MTN Group (MTN) are being dragged over the coals. Overall, it looks like a profit-taking day in the ALSI, with miners as the main winners.
Local Stocks
Sappi (SAP)
Sappi came out with its earnings today, showing middling numbers, with expectations of better Q4 being the one saving grace. It will be worth keeping an eye on to see how the market reacts to it.
Blu Label (BLU)
Blu will have its earnings this month, and the trading statement will be most worth keeping an eye on.
Earnings & Economic Data
Pre-Market Earnings
Energy Fuels (UUUU)
Energy Fuels is an American mining and refining company, specialising in uranium production. The company has been diversifying into south critical industrial metals as of 2025.
Datadog (DDOG)
Datadog is an American software company that provides digital observability services.
Celcius Holdings (CELH)
Celsius is an American beverage company, known for its energy drinks. In the past, it has shown the ability to move quite a bit on/after earnings.
After-Market Earnings
The Trade Desk (TTD)
Trade Desk is an American tech company with a significant presence in the software space. While the company hasn’t been performing very well, its earnings statements should still be very interesting.
Economic Data
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