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It is time for the annual Intellidex SA’s Top Stockbrokers survey. Take part by completing the survey here: http://www.intellidex.co.za/topbrokers2019
Although the JSE ended the week on a high note, it still recorded a loss for the week. On Thursday, better-than-expected Chinese data and a steady yuan boosted the local market. At the closing bell, the Top 40 stood 0.74% in the green.
US markets opened up on Thursday, lifted by surprisingly upbeat Chinese economic data and the settled Chinese currency. At 17h30, the DJ Industrial was 0.82% higher.
European indices ended Thursday in the green thanks to bond yields and the yuan stabilising as well as the better-than-expected Chinese trade data. The FTSE 100 closed 0.93% in the green.
Thursday saw Asian shares rise on the back of surprisingly positive Chinese trade reports and the yuan’s fall being capped. The Hang Seng ended the day 0.39% up.
The Nikkei ended four consecutive days of losses on Thursday due to investors “bargain-hunting” despite fragile sentiment. At the closing bell, the Japanese index had gained 0.37%.
On Thursday, the local currency reached its lowest point in 11-months, as investors digested the severe global risk-off trade and the Moody’s warning about Eskom. At 17h30, the rand traded R15.03 against the dollar.
Gold prices fell slightly on Thursday after rising over 17% in 2019 and as much as $100 in the past weekGold prices fell slightly on Thursday after rising over 17% since the beginning of the year and as much as $100 in the past week. Despite this drop, experts anticipate it to increase further. At 17h30, an ounce of spot gold traded at $1 497.13.
Oil prices made up some ground on Thursday, jumping over $1 per barrel, because of the stabilising yuan and possible future production cuts. At 17h30, Brent crude was trading at $57.68 per barrel.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer