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The JSE closed firmer on Friday as good news regarding trade between China and the US, and the start of stimulus talks in Europe, helped lift markets. The All Share firmed by 0.52%.
Wall Street’s main indexes slipped into the red in volatile trading on Friday as a report said Apple Inc would shut some of its US stores again in Arizona, Florida, North Carolina and South Carolina due to a spike in COVID-19 cases.
European shares closed higher on Friday, with defensive plays leading gains as investors remained hopeful that a massive stimulus package will soon be passed even though EU leaders made little progress in negotiations. The STOXX 600 Index ended the week higher, recovering about 36% from its March lows.
Hong Kong stocks firmed on Friday to conclude the week higher, as Beijing reassured investors of fresh reforms and ample financial liquidity to bolster its economy and capital markets. The Hang Seng closed up by 0.73%.
The Nikkei rose by 0.55% on Friday, propped up by hopes of an economic recovery after the government lifted its domestic travel curbs that were imposed to halt the spread of the COVID-19 pandemic.
The rand was firmer on Friday as local investors fixed their eyes on finance minister Tito Mboweni’s supplementary budget expected this Wednesday (24 June). The rand reached a best intra-day level of R17.26/$.
Gold gained on Friday as a rise in COVID-19 cases raised concerns over a second wave in the US and China which could compel governments to implement another lockdown.
Oil rose to above $42 a barrel on Friday, after oil cartel OPEC and its allies promised to meet supply cuts and signs of demand.
Source: Reuters, Business Day, Trading Economics
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