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The JSE fell for the third consecutive day on Friday with banks and financials leading losses. The All Share closed down 0.49% and the Top 40 0.51%.
After reaching new COVID-19 daily infections and the Federal Reserve Bank capped shareholder payouts, Wall Street opened down on Friday. At 17h40, the Dow Jones had decreased by 2.12%.
European markets closed in the red on Friday as investor concerns about the global economy’s recovery rate rose in light of the surge of COVID-19 infections, particularly in the US. At the close of business, the STOXX 600 Index reported a loss of 0.39%.
Hong Kong markets were closed for a public holiday.
Tracking overnight Wall Street gains, Japanese shares bounced back from an over one-week low in the previous session to end the week in the green. The Nikkei closed up 1.13%.
The local currency took a knock on Friday after Fitch Ratings said it does not foresee SA reaching stabilised debt levels within the next four years as Finance Minister Tito Mboweni had mentioned in the supplementary budget on Wednesday. At 17h40, the rand traded R17.32/$, R21.36/£ and R19.42/€.
Gold made up ground on Friday as the COVID-19 infection rate in the US continued to rise. An ounce of gold cost $1 763.40 at 17h40.
Oil prices dipped on Friday due to an increase in US stockpiles and output, while demand concerns remained in light of the Chinese and US COVID-19 infection spikes. At 17h40, a barrel of Brent crude traded at $40.39.
Source: Reuters, Business Day, Trading Economics
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