Select your Top Menu from wp menus
  • Instagram
  • TikTok
Market Recap 1 September to 7 September 2021

Market Recap 1 September to 7 September 2021

The local market was quiet this week, with the NSX Local index flat at 464, and the NSX Overall Index down 1.34% at 1505. As at 1 September, 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. Namibia Breweries lead the market this week with growth of 0.06% to close at N$ 34.03 per share. In terms of volume FirstRand Namibia lead the market with N$ 1.3 million worth of shares traded, with Capricorn Group in second place with N$ 635 thousand worth of shares traded. The local currency gained 1.45% against the US Dollar, to close at N$ 14.30 per USD, and gained 1.25% against the British Pound, to close at N$ 19.72 per GBP. It closed at N$ 16.93 against the Euro, a gain of 1.22%.

 

Market Recap Capricorn FirstRand Breweries Trustco Group Oryx Properties Asset Management FirstRand Namibia US Dollar USD British Pound GBP Euro

 

Standard Bank Namibia Holdings released its unreviewed consolidated interim results for the six months ended 30 June 2021, and revealed that net interest income declined by 4.7% to N$ 601 million for the six months, with profit after tax down by 16.5% to N$ 189 million. As a result, both headline earnings per share as well as earnings per share declined by 18% to 36c per share. The group noted that impairments decreased by 18.5% for the period under review, with loans and advances to customers increasing by 2.7% to N$ 23 billion, with corporate lending showing the strongest growth at 11%. However, deposits and current accounts decreased by 10.2% to 23.7 billion. The group stated that it remains committed to building on these results with strong cost discipline and a focus on credit risk.

 

Related posts