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The local bourse closed slightly higher on Tuesday as prospects of a swift economic rebound and progress in vaccine rollouts lifted commodity prices. At the closing bell, the All Share gained 0.15%.
Wall Street’s main indices hit fresh highs on Tuesday as investors sought cyclical stocks amid stimulus bets.
The pan-European STOXX 600 was set to reach a one-year high after Glencore rose above 3%, leading a rally among mining stocks.
Hong Kong stocks followed European markets higher on Tuesday on hopes of a swift economic rebound. The Hang Seng closed 1.90% in the green.
The Nikkei went up by 1.28% at 30 467.75 points, closing at its highest level since August 1990.
At 19h30, the rand weakened against major global currencies trading at R14.68/$, R20.43/£ and R17.78/€.
Stronger US Treasury yields dragged gold prices while platinum struggled for direction following a rally that pushed it to a near seven-year high.
Oil prices struggled for direction on Tuesday with catalysts including the Texas deep freeze and news that OPEC+ producers planned on easing supply curbs.
Source: Reuters, Business Day, Trading Economics
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