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On Thursday the All Share closed 0.31% higher on the back of a positive trading update from FirstRand, indicating that payroll activity has reached pre-COVID-19 levels once again.
US markets closed due to a public holiday.
European shares were flat on Thursday as the UK’s bleak growth forecasts and Germany extending lockdown measures fuelled fears around the economic impact of COVID-19. The STOXX 600 ended the day 0.12% lower.
The Hang Seng traded 0.56% higher on Thursday, lifted by energy, IT and financial share as well as COVID-19 vaccine optimism.
Despite concerns about the rising number of COVID-19 infections and consequent restrictions, the Nikkei closed up 0.91% on Thursday, reaching its highest level in over 29 years.
The local currency weakened slightly on Thursday
as investors assessed South Africa’s fragile economic fundamentals, but losses
were capped by a weaker greenback. At 17h55 the rand traded at R15.22/$,
R20.30/£ and R18.12/€.
Gold rose slightly on Thursday due to a weaker dollar and as the growing number of US infections rose investor expectations of possible fiscal support. Gold traded at $1 809.25/oz at 17h55.
Oil fell to $47.87 a barrel on Thursday at 17h33, down almost 2%, due to an increase in supply.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer