Market Report

Namibia’s share market ended mixed, with the Namibia Securities Exchange (NSX) Local Index gaining 0.11%, while the broader NSX Overall Index fell by 0.27%

The gain in the local market was supported by several major companies.

Capricorn Group rose by 0.03%, while FirstRand Namibia gained 0.17%. SBN Holdings increased by 0.14% and Mobile Telecommunications Limited rose by 0.21%.

In South Africa, shares ended lower. The JSE All Share Index, which tracks many of the biggest companies listed in Johannesburg, fell by 0.85%. The Top 40 Index dropped by 0.92%.

Banks and other financial companies were among the weaker performers, with the Financial 15 Index falling 0.84%.

The Resources 10 Index, which tracks major resource companies, was unchanged.

Major international markets were mixed. In the United States, the Dow Jones fell by 0.86%, while the S&P 500 declined by 0.25%. In the United Kingdom, the FTSE 100 fell by 0.29%.

Asian markets, however, moved higher, with Japan’s Nikkei gaining 3.25% and Hong Kong’s Hang Seng rising by 0.37%.

COMMODITIES

Oil prices fell, while precious metals gained.

The price of Brent crude oil fell 0.78% to US$97.27(about N$1 597.78) a barrel.

Gold gained 0.81% to US$4 191.14 (about N$68 821.53) an ounce, while platinum rose by 1.10% to US$1 735.13 (about N$28 498.83) an ounce.

The Namibia dollar weakened against the US dollar, trading at N$16.42 to US$1.

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