Chart of the Week
Entering the final quarter of the year, the NSX Commodity Index remains the best-performing asset class among those tracked in our Smartie Box, delivering an exceptional 39.8% year-to-date gain. This performance has been largely driven by the surge in gold, now approaching an all-time high of $3,900 per troy ounce, and platinum, which has rallied to around $1,700 per troy ounce, levels not seen since 2012. Platinum’s strength reflects a tightening in global supply, with year-to-date gains of 47.0% for gold and 73.9% for platinum.
Global equities have performed positively, but the MSCI World, tracked locally via the Sygnia Itrix MSCI World ETF, has returned only 5.4% year-to-date, with gains for local investors muted by the strengthening of the Rand.
The NSX Overall Index has staged a solid recovery over the past two months after a slow start to the year, driven primarily by renewed demand for South African equities, particularly mining stocks. Meanwhile, the NSX Local Index has delivered steady positive returns each month, supported by both price appreciation and dividend payouts from local companies.
Notable local share performances include:
•Standard Bank Namibia (SNO): N$11.51 – trading at an all-time high, 26.8% YTD gain
•FirstRand Namibia (FNB): N$52.01 – trading at an all-time high, 11.9% YTD gain
•Capricorn Group (CGP): N$22.20 – trading at an all-time high, 7.9% YTD gain
•Letshego Holdings Namibia (LHN): N$6.55 – the largest year-to-date increase among its peers, up 31.0%
Global equities have performed positively, but the MSCI World, tracked locally via the Sygnia Itrix MSCI World ETF, has returned only 5.4% year-to-date, with gains for local investors muted by the strengthening of the Rand.
The NSX Overall Index has staged a solid recovery over the past two months after a slow start to the year, driven primarily by renewed demand for South African equities, particularly mining stocks. Meanwhile, the NSX Local Index has delivered steady positive returns each month, supported by both price appreciation and dividend payouts from local companies.
Notable local share performances include:
•Standard Bank Namibia (SNO): N$11.51 – trading at an all-time high, 26.8% YTD gain
•FirstRand Namibia (FNB): N$52.01 – trading at an all-time high, 11.9% YTD gain
•Capricorn Group (CGP): N$22.20 – trading at an all-time high, 7.9% YTD gain
•Letshego Holdings Namibia (LHN): N$6.55 – the largest year-to-date increase among its peers, up 31.0%
