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Local markets were flat on Monday as investors anticipated the supplementary budget Finance Minister Tito Mboweni is set to deliver later this week. The JSE closed up 0.01% and the Top 40 0.13%.
Wall Street opened slightly lower on Monday as investors remained cautious due to the rising number of new infections fuelling fears of more business activity setbacks.
Most European markets traded down on Monday as investors were unnerved by the resurgence in COVID-19 cases in, amongst other countries, Germany. At the close of business, the STOXX 600 Index reported a loss of 0.74%.
Hong Kong stocks started the week in the negative as “investors were wary after details of a new security law for the territory showed Beijing will have overarching powers on its enforcement”. The Hang Seng ended the day 0.26% in the red.
Japanese shares edged lower on Monday as investors kept a close eye on the rising number of new COVID-19 infections across the globe. The Nikkei closed down 0.18%.
The local currency had an uneventful Monday, remaining close to Friday’s gains; however, it has reported a 2.30% rise against the dollar over the past 30 days. At 18h55, the rand traded R17.29/$, R21.56/£ and R19.48/€.
Investors fled to safe-haven assets on Monday boosting gold by about 1% to reach the highest point in over a month. An ounce of gold cost $1 755.94 at 18h55.
Despite the oil price rising on Monday in light of production cuts, gains were capped by demand fears as the global COVID-19 infection rate rose. At 18h55, a barrel of Brent crude traded at $42.41.
Source: Reuters, Business Day, Trading Economics
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