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On Wednesday, the All Share closed 0.03% lower,
due to a rise in COVID-19 cases and higher local inflation data.
surprise rise in jobless claims and a growing number of COVID-19 infections
weighed on US markets on Wednesday. At 18h00, the Dow Jones had fallen by
European shares fell slightly on the back of relaxed COVID-19 restrictions and hopes of a vaccine in the near future. The STOXX 600 ended the day 0.08% lower.
The Hang Seng traded 0.24% higher on Wednesday
due to global risk-on sentiment; however, gains were capped by a sell-off in
The Nikkei closed up 0.50% on Wednesday boosted by optimism around the COVID-19 vaccine, an overnight rally by the Dow and easing US election concerns.
The local currency lost little ground against major global currencies on Wednesday after inflation rose above expectations. At 18h00, the rand traded at R15.25/$, R20.38/£ and R18.13/€.
Gold prices rose slightly on Wednesday after US
initial jobless claims climbed unexpectedly, sending investors to safe-haven
assets. Gold traded at $1 810.81/oz at 18h00.
On Wednesday, oil rose to $48.10 a barrel at
18h00, up almost 2% for the day due to both COVID-19 vaccine optimism and lower
US crude inventories.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer