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The local bourse ended the week on a
high ahead of S&P Global Ratings changing its outlook on South
Africa’s credit from stable to negative Friday evening. According to a Bloomberg survey, 16 out of 22 experts questioned are anticipating the ratings agency to change it to negative. The Top 40 closed up 0.50%.
Wall Street indices opened higher on Friday as positive comments by US President Donald Trump regarding the trade deal with China boosted investor sentiment. At 17h50, the Dow traded 0.23% in the green.
European markets made up some losses on Friday
on the back of positive Eurozone economic data and improvements in all but one
European sub-sector.The pan-European STOXX 600 Index climbed 0.44%.
Kong shares rose on Friday as the financial capital had a two-day lull in
protestor violence ahead of their elections. The Hang Seng Index rose
0.34% for the day.
Japanese indices rose on Friday as investors acted with cautious optimism on reports that both the US and China are hoping to reach a plausible trade deal. The Nikkei closed up 0.32%.
local currency held steady on Friday as investors awaited concrete action
regarding the trade war and for S&P Global Ratings to reveal their credit
rating on South Africa. At 17h50, the rand was trading R14.70 to the US
Gold prices fell somewhat on Friday after the
releases of upbeat US economic data boosted the dollar and Treasuries. An ounce of gold cost $1 466.06 at 17h50.
prices eased slightly on Friday as markets expect OPEC and its associates
to extend production cuts at their December meeting. Brent crude traded at
$64.12 a barrel at 17h50.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer