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Market Recap 4 August to 10 August 2021

Market Recap 4 August to 10 August 2021

The local market was quiet this week, with the NSX Local index flat at 465, and the NSX Overall Index up 1.09% at 1509. As at 10 August, FirstRand Namibia was the largest local company on the exchange, with market capitalization of N$ 8 billion, followed by Namibia Breweries with N$ 7 billion, Capricorn Group with N$ 6.7 billion and Standard Bank Namibia with N$ 3.4 billion. In terms of volume Trustco Group lead the market with N$ 976 thousand worth of shares traded, with Namibia Breweries in second place with N$ 951 thousand worth of shares traded. The local currency lost 3.43% against the US Dollar, to close at N$ 14.80 per USD, and lost 2.91% against the British Pound, to close at N$ 20.48 per GBP. It closed at N$ 17.34 against the Euro, a loss of 2.19%.

 

 

Letshego Holdings Namibia has released a trading statement for the period ending 30 June 2021, and stated than its headline earnings per share and earnings per share is expected to be materially higher than its restated figures for the previous comparable period. Expecting HEPS and EPS to increase by between 20% and 25%, investors can expect EPS and HEPS of between 36c per share and 37.5c per share. Letshego indicated that these figures has not been reviewed by its external auditors, and that half-year results are expected to be released by 17 August 2021.

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