Apologies, It seems that we couldn't find any results for ""
Try these search tips:
Please select which division you would like to log in to.
Please select which division you would like to register for.
On Wednesday, the local bourse recorded a five-month high as investors kept their eyes on the impeachment proceedings against US President Donald Trump. At the closing bell, the JSE Top 40 gained 0.77%.
Wall Street opened flat on Wednesday as investors kept a close watch on the Trumpeachment proceedings and after FedEx Corp “cut its annual profit forecast for the second time this year”. Shortly after the JSE closed, the Dow was flat at 0.07%.
On Wednesday, the marginal downward trend of European shares on the back of fears of a potential “hard Brexit” was capped by gains in defensive shares. The pan-European STOXX 600 Index lost 0.13%.
Although reaching the highest level since late June, Hong Kong stocks remained relatively flat on Wednesday as White House officials claimed a trade deal is “absolutely completed” while Chinese officials sound cautious. The Hang Seng gained 0.55%.
Disappointing Japanese export data released on Wednesday, showing a contraction for the twelfth month in a row, weighed heavily on Japanese markets. The Nikkei closed 0.55% lower.
The local currency reached a four-month high on Wednesday, boosted by US-China trade optimism and ratings agency Fitch announcing, late in the trading session, that it will keep SA at BB+ with a negative outlook. At 17h55, the dollar was trading at R14.29, the pound R18.69 and the euro R15.90.
A stronger dollar and optimism around a possible US-China trade deal lured investors away from safe-haven metals on Wednesday. Spot gold traded at $1 477.24 at 17h55.
Oil prices rose slightly on Wednesday because of a possible trade deal being reached between the US and China and reports showing a decline in US crude inventories. At 17h55, a barrel of Brent crude traded at $66.43.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer