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Market Recap 12 June to 18 June 2019

Market Recap 12 June to 18 June 2019

The local market was reasonably active this week, with the NSX Local index down 0.18% at 625, and the NSX Overall Index down 0.48% at 1377. As at 18 June, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 10.3 billion, followed by Namibia Breweries with N$ 10 billion, Trustco Group with N$ 8.7 billion, and Capricorn Investment Group with N$ 8.3 billion. Agra lead the market this week with growth of 0.61% to close at N$ 1.64 per share. In terms of volume FirstRand Namibia lead the market with N$ 1.9 million worth of shares traded, with Trustco Group in second place with N$ 1.1 million worth of shares traded. The local currency gained 0.15% against the US Dollar, to close at N$ 14.64 per USD, and gained 1.39% against the British Pound, to close at N$ 18.40 per GBP. It closed at N$ 16.40 against the Euro, a gain of 1.32%.

The Namibia Statistics Agency released the inflation figures for the month of May 2019, and revealed that annual inflation is now 4.1% compared to 3.8% the same time last year, having reduced from the 4.5% recorded for April 2019. Increases in price were noted in Food and beverages (3.9% to 4.4%), Education (9.9% to 12.0%), Transport (5.6% to 7.6%), Communications (-0.1% to 1.3%), Recreation and culture (2.4% to 4.5%) and Hotels and restaurants (3.3% to 4.7%). Zone 1 (Otjozondjupa, Kunene, Oshana, Omusati, Oshikoto, Ohangwena, Kavango East, Kavango West and Zambezi) saw inflation of 3.3% compared to 4.3% last year, with Zone 2 (Khomas) seeing inflation of 4.1% compared to 2.9% last year. Zone 3 (Omaheke, Hardap, Karas and Erongo) had inflation of 5.1%, which was the same as last year.

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