No breather for markets

Jo-Maré Duddy – The Namibian Stock Exchange (NSX) lost more ground today, with the Local Index closing 0.88% lower than yesterday, while the Overall Index fell 7.15%.Three companies on the Local Index saw their share prices retreating.The biggest loser was Namibia Breweries. NamBrew closed at N$43.99 per share, N$1.01 a piece or 2.2% down from yesterday.Letshego Holdings (Namibia) dropped 0.8% or 2c per share and ended at N$2.38.Capricorn Investment Group’s share price decreased by 0.1% or 1c. The group closed at N$15.29 per share.SBN Holdings bucked the trend by closing 0.2% or 2c per share higher at N$8.45.The Local Index ended today at 577.98 points, down 5.15 points from yesterday.The Overall Index closed at 763.24 points, 58.80 points lower than yesterday.JSE and globalThe JSE All Share Index ended at 37 963.00 points, 1.66% or 641.90 points lower than yesterday.Reuters reports that Wall Street pushed into positive territory today as policymakers pulled out all the stops to try and stave off a deep and lasting coronavirus-driven recession and its damaging fallout on corporate America.However, the gains remained small compared to the almost one third collapse in the value of the S&P in the past month. The Nasdaq, led by gains for Microsoft, Amazon.com and Facebook rose 3.5%.The S&P airlines index, down roughly 60% this year, inched up 0.4%. Wall Street's worst selloff since the 2008 sub-prime crisis has deepened this week and the Dow erased the last of its gains under Donald Trump's presidency on Wednesday.At 11:55 a.m. ET, the Dow Jones Industrial Average was up 399.59 points, or 2.01%, at 20,298.51, the S&P 500 was up 48.42 points, or 2.02%, at 2,446.52. The Nasdaq Composite was up 247.43 points, or 3.54%, at 7,237.27.The S&P index recorded 3 new 52-week highs and 85 new lows, while the Nasdaq recorded 10 new highs and 477 new lows.Europe's broad Euro STOXX 600 fell 0.9% after gaining more than 1% in early trading. Indexes in Frankfurt , Paris and London's FTSE all saw advances wiped out.AsiaEarlier, MSCI's broadest index of Asia-Pacific shares outside Japan slumped by 4%. Korea and Taiwan led the losses as the index plunged to a four-year low, with circuit breakers triggered in Seoul, Jakarta and Manila. – Additional reporting by Nampa/Reuters

No breather for markets

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Republikein 2025-05-08

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No breather for markets

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