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The JSE hit a fresh high on Friday, closing at 67 464.86 with sentiment bolstered by prospects of a $1.9 trillion US stimulus package and vaccine rollouts. At the closing bell, the All Share gained 1.34%.
A rise in economy-sensitive cyclical sectors boosted Wall Street on Friday with financial, material, energy and industrial sectors doing the heavy-lifting. At 18h00, the Nasdaq was at 13 874.46 points.
European stocks ended the week lower as concerns over a possible rise in inflation overshadowed optimism around a vaccine-led economic recovery. At the close of business, Germany’s DAX gained 0.77%.
The Hang Seng ended 0.16% firmer at 30 644.73 supported by the materials sector as investors welcomed encouraging data from the world’s largest economies that pointed to a global recovery.
Although the Nikkei registered a weekly gain, Japanese shares fell on profit-taking after robust gains in Fast Retailing and other market heavyweights boosted the index in previous sessions.
At 18h00 the rand had weakened 0.40%, trading at R14.63/$, R17.76/€ and R20.51/£.
While on track for a weekly decline underpinned by rising Treasury yields, bullion recovered from a seven-month low as the greenback weakened.
Oil prices slipped on Friday as energy firms in Texas geared up to restart oil and gas fields affected by cold weather and power outages. At 18h30, Brent crude lost 1.46%.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer