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On Tuesday the JSE maintained its downward trend from the previous session after manufacturing production contracted by 1.10% in July, this from a downwardly revised 3.60% in June. Shortly after the closing bell, the All Share was down by 0.34%.
US markets were flat on Tuesday after weak economic data from China fuelled concerns of a global recession. The Dow was up by 0.06% shortly after the JSE closed.
European markets traded lower on Tuesday as investors chose to remain cautious ahead of the European Central Bank’s (ECB) monetary policy meeting. At close of trade, the FTSE 100 was up 0.44%, France's CAC 40 rose 0.08% and Germany's DAX 30 ended 0.35% in the green.
Hong Kong stocks were flat on Tuesday after China’s factory-gate prices for August deflated at the sharpest pace in three years. The Hang Seng Index closed 0.03% in the green.
Japanese shares rose to a six-week high on Tuesday after the banking sector benefited from an increase in government bond yields. The Nikkei Index closed 0.35% in the green.
The rand strengthened on Tuesday as no new threats on tariffs surfaced and investors remained optimistic over the prospect of fresh monetary stimulus. Just after the JSE closed, the rand strengthened to R14.65/$.
Improved risk appetite boosted by hopes of economic stimulus from key central banks pushed the price of gold to below $1 500 on Tuesday, amid a strengthened dollar environment. At 19h30, an ounce of spot gold traded at $1 491.57.
Optimism that OPEC and other major oil producers may opt to defer output cuts pushed oil prices to hit a six-week high on Tuesday. At 20h00, a barrel of Brent crude traded at $63.08.
Source: Reuters, Business Day, Trading Economics
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