Unrest in China and protests against the government’s aggressive covid-19 policy spilt over into the markets with a sea of red hitting the board. The local bourse traded lower during the morning session but recovered during the afternoon, closing 0.30% stronger.
In the currency markets, the rand is trading relatively flat, having opened at R17.14/$ after trading under R17/$ last week. The local unit is currently exchanging hands at R17.13/$.
In company news, Multichoice (0.55%) said revenue increased by R1.8 billion to R28.6 billion for the six months to end-September while operating profit also increased and there was a large decrease in profit after tax.
Last week we saw retailer Woolworths announcing its intention to list on the A2X Markets from next month, today Truworths (-0.41%) joins its peer and will list on A2X from December 5.
Truworths already has a dual listing on both the JSE and Namibian Stock Exchange. Its listing on A2X will bring that exchange up to 92 listed instruments with a combined market cap of R5.3 trillion.
