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The JSE ended lower on Thursday amid a selloff in global equities as recession and trade war fears weighed on risk assets. At the closing bell, the JSE All Share lost 0.51%.
Wall Street indices were steady on Thursday as investors looked for new catalysts from services data. Just after the JSE closed, the S&P 500 gained 0.20%.
European markets surged on Thursday following a stellar performance by aerospace company Airbus and luxury goods makers. Shortly after the JSE closed, France’s CAC 40 gained 0.30%.
Hong Kong stocks were mixed on Thursday after Washington threatened to impose tariffs on over $7 billion worth of European Union imports. Both the US and China have enacted tariffs on each other’s goods in a prolonged trade spate that has increased the risk of a global recession. The Hang Seng closed 0.26% in the green.
Japanese stocks plunged on Thursday after the US fanned trade war concerns by threatening to impose tariffs on European Union goods. At 18h10, the Nikkei had lost 2.01%.
The rand made solid gains on Thursday as investors digested the ANC's plans to boost the domestic economy. At 18h15, a dollar traded at R15.14.
Gold prices went up on Thursday amid simmering trade tensions which created heightened uncertainty for the global economic outlook. An ounce of spot gold traded at $1 510.37 at 18h15.
Oil prices slid on Thursday on the back of heightened concerns over slowing global growth and oil demand. At 18h20, a barrel of Brent crude traded at $57.66.
Source: Reuters, Business Day, Trading Economics
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