Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
Yesterday was another quiet day in the U.S., as the market continues to consolidate in the absence of a sufficient catalyst. Pakistan announced progress towards a deal, but the radio silence from all other parties and the old familiar pattern of deals and escalations have led to a very muted reaction from the market. With very little else in terms of news headlines, all eyes are fixed on the U.S. core CPI numbers coming out later today, as it can be a sufficiently potent catalyst to get the market moving in one direction or the other.
Tencent (700)
Tencent reports earnings today, which is disappointing, as its share price has continued to drop by over 2% overnight. However, it’s important to note that it has been forming higher lows since June, which suggests the stock could still bounce. As for the earnings themselves, Tencent has shown increasingly tighter margins between results and expectations, which has led to a muted market reaction. But if you see a larger gap between the results and expectations today, expect a similarly large movement in the ALSI, as a huge win could lead to investments out of banks and locals and into Naspers (NPN) and Prosus (PRX) and vice versa.
Local Stocks
With Shoprite (SHP), Northam Platinum (NPH), and Impala (IMP) all releasing trading statements today, we see PGMs (Platinum Group Metals) and retailers as the name of the game.
Shoprite (SHP)
Shoprite released an earnings statement today, with decent numbers that keep it at the top of the retail space. With it being near the top of its range, it’ll be interesting to see if the market sees this as an opportunity to take profits, or if the numbers are good enough to see the stock soar higher.
Northam Platinum (NPH)
Northam Platinum also released a trading statement with great numbers today. We recommend keeping an eye out to see how it trades in the morning, as there’s currently no consensus on it, and it could go either way.
Ex-Dividends & Economic Data
U.S. Core CPI numbers scheduled for 14:30 today are especially important to keep an eye on, for the possible effect on interest rates and its function as a catalyst for the broader market.
Ex-Dividends
The following stocks are set to go Ex-div today.
| Stock | Price | Dividend | Ex-Div Price | Change |
| ADR | R 6.70 | R 0.46 | R 6.24 | -6.87% |
| OMN | R 106.75 | R 7.50 | R 99.25 | -7.03% |
Economic Data
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