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The JSE rose on Wednesday after business confidence rebounded from a 20-year low to 26 index points in the fourth quarter. At the closing bell, the JSE All Share gained 0.21%.
Wall Street indices hit record highs on Wednesday, following the release of a better-than-expected GDP growth rate in the third quarter of 2019. Shortly after the JSE closed, the Nasdaq gained 0.40%.
European markets gained on renewed trade deal optimism on Wednesday, after US President Donald Trump said that “Washington was in the final throes of work on an initial trade agreement with Beijing”. At 18h30, the pan-European STOXX 600 Index climbed 0.30%.
Hong Kong stocks traded higher on Wednesday after Trump raised hopes of signing an interim trade deal with China. The Hang Seng gained 0.18%.
A rally in construction and semiconductor-related stocks continued to support Japan’s Nikkei on Wednesday on the back of increased trade deal optimism. At 18h50, the Nikkei recorded a gain of 0.28%.
local currency strengthened against the dollar on Wednesday as investors
cheered an upward trend in business confidence. At 18h55, the dollar was
trading at R14.74.
Gold prices fell on Wednesday after Trump’s optimistic comments boosted global sentiment over a possible trade deal that could be sealed before the end of the year. An ounce of spot gold traded at $1 453.17 at 19h00.
A surprise build up in US crude inventories weighed on the price of oil on Wednesday, but trade deal optimism kept losses at a minimum. At 19h00, a barrel of Brent crude fell by 0.61% and traded at $63.80.
Source: Reuters, Business Day, Trading Economics
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