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Despite the energy sector reporting gains on Tuesday, the JSE was dragged down by poor performances in most other sectors while investors waited for the South African Reserve Bank’s interest rate decision on Thursday. The All Share closed down by 0.35%.
Wall Street opened higher on Tuesday as
optimistic data from China revived economic rebound hopes. At 18h50, the Nasdaq
had gained 1.59%.
On Tuesday, European markets closed higher as
robust industrial data from China boosted the mining and luxury sectors.
The Hang Seng closed up 0.38% on Tuesday thanks to optimistic economic data from mainland China and progress reported about developing a COVID-19 vaccine.
On Tuesday, the Nikkei ended 0.44% lower due to a stronger yen and investors booking profits after Monday’s gains.
The local currency extended gains on Tuesday, reaching about a 1% gain in intraday trade and its highest level since July 2020. At 18h50, the rand traded at R16.44/$.
After reaching an almost two-week high on Tuesday, gold fell slightly as the dollar strengthened. An ounce of gold cost $1 957.50 at 18h50.
Oil prices climbed slightly on Tuesday as
investors expected Hurricane Sally to make landfall on the Gulf Coast and
disrupt US oil production. By 18h50, oil had risen to $40.24 per barrel.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer