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The local market ended Tuesday in the green with gold and platinum taking the lead as global sentiment improved in light of some economies reopening. The All Share rose 0.23%.
Wall Street opened
slightly higher on Tuesday due to optimism that the reopening of businesses
will boost the global economy.
European markets reported gains on Tuesday, led by telecoms, healthcare and utilities. The STOXX 600 Index closed at 0.26%.
Hong Kong stocks fell on Tuesday after reports of new COVID-19 infections emerging post-lockdown in Wuhan, China. The Hang Seng closed 1.45% in the red.
Japanese markets were flat on Tuesday as investors “weighed hopes of economic reopenings against concerns about further waves of coronavirus infections”. The Nikkei traded 0.12% lower.
Signs of easing tensions between the US and China boosted the demand for emerging market currencies on Tuesday, lifting the rand. At 17h50, it traded R18.26/$.
Gold rose on Tuesday as the dollar eased and investors expected the US Federal Reserve Bank to provide further stimulus to aid the battered US economy. An ounce of spot gold cost $1 708.29 at 17h50.
Oil prices picked up on Tuesday after Saudi Arabia said it would deepen its supply cut in June. At 17h50, a barrel of Brent crude traded at $27.72.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer