Apologies, It seems that we couldn't find any results for ""
Try these search tips:
Please select which division you would like to log in to.
Please select which division you would like to register for.
On Tuesday the JSE made up some of the losses experienced on Monday. This was mostly due to the dollar losing ground, boosting local banks and miners. At the close of trade, both the All Share and the Top 40 were up by over 1%.
US markets opened flat on Tuesday as investors’ fears around further negative effects brought on by the tariff dispute between the US and China plateaued. At market close, the Nasdaq was down 1.11%, while the Dow fell 0.84%.
On Tuesday the FTSE 100 gained over 1% ahead of the Brexit vote. European markets also rallied on Tuesday as investors turned to utilities and consumer goods after worrisome warnings released by US companies. The STOXX 600 closed up 0.81%.
The Hang Seng fell on Tuesday because of investor fears around the criminal charges laid by the US against the Chinese telecom giant Huawei, all of which was aggravated by the looming US-China tariff discussion taking place later this week.
Tuesday proved to be a difficult battle for Japanese indices due to performance warnings given by US Caterpillar Inc and Nvidia Corp and qualms around Chinese product demands. However, the Nikkei was lifted by gains in the utilities, food and railway sectors.
Despite investor worries, the local currency strengthened on Tuesday due to the greenback softening and gold prices surging. At 19h15, the rand traded at R13.58 a dollar.
On Tuesday gold reached its highest level in seven months, thanks to investors practising caution ahead of the Fed’s interest decision, the Brexit vote and the possible conclusion to the China-US trade war. At 19h15, spot gold was trading at $1 309.26 an ounce.
Oil prices made up ground on Tuesday in light of sanctions the US imposed on PDVSA, a Venezuelan state-owned oil company, in a possible attempt to hinder exports by OPEC members. At 20h10, benchmark Brent crude was trading at $61.42 a barrel.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer