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The JSE rose on Monday, despite global COVID-19 cases surpassing the 10-million mark. The All Share and Top 40 gained 0.92% and 0.89% respectively.
Hopes for more economic stimulus and better-than-expected economic data drove a rally in US equities on Monday, despite a surge in COVID-19 cases that threatens to stall global economic recovery. At 18h30 the Dow gained 1.82%.
European markets were steady on Monday but gains were capped by losses in energy and consumer companies while investors found it increasingly difficult to ignore the rising number of COVID-19 cases. The pan-European STOXX 600 rose 0.62%.
Hong Kong shares sank on Monday as a spike in new infections and Beijing’s imminent national security law on the city curbed risk appetite. At the close of business, the Hang Seng Index lost 1.01%.
Japanese shares traded lower on Monday after several US states imposed business restrictions to counter a second wave of coronavirus infections. The Nikkei lost 2.15%.
The rand was muted on Monday as risk-sensitive currencies traded weaker after new infections dampened hopes for a speedy global economic recovery. At 19h30, the rand traded at R17.33.
Gold prices steadied on Monday as investors sought safe haven assets amid a rapid spike in COVID-19 cases worldwide. At 19h35, an ounce of gold traded at $1 770.07.
Bullish economic data from Asia and Europe boosted oil prices on Monday but gains were capped by a spike in COVID-19 cases that has reached 10 million globally. Brent crude traded at $41.78 a barrel.
Source: Reuters, Business Day, Trading Economics
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