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Despite Brexit worries affecting investor sentiment, the local bourse ended Wednesday just in the green thanks to gains by miners. At the close of trade, the All Share was up 0.23%.
The Federal Reserve's continued patient stance on future (and current) interest rate hikes boosted US markets on Wednesday. At 19h15, the Nasdaq and the S&P 500 traded almost 1% up.
On Wednesday, European markets inched up on hopes that the British Parliament would now vote for a no-deal Brexit. The pan-European STOXX 600 index closed 0.63% down.
Asian indices took a beating on Wednesday due to investors acting with caution because of uncertainty around both the British exit from the European Union and the Sino-US tariff negotiations. At the end of trade, the Shanghai had fallen by 1.09%.
Wednesday was a difficult day for the Nikkei as poor machinery orders mixed with Brexit chaos and the soft US inflation move weighed heavily on the index. At 19h15, the Nikkei was 1.03% down.
The rand had a roller coaster day on Wednesday as the pound sterling fought back ground despite the political chaos in Britain. At 18h15, a dollar cost R14.41 and a pound R19.05.
Gold prices reached a two-week high on Wednesday due to investors seeking a safe haven because of rising uncertainties around Britain’s exit from the European Union. At 19h15, an ounce of spot gold was trading at $1 308.38.
Oil prices were lifted on Wednesday by a drop in US crude inventories, the Venezuelan power cut that halted production, and possible slower supply from the world’s top producer. At 19h15, a barrel of Brent crude was trading at $67.21.
Source: Reuters, Business Day, Trading Economics
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