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The JSE closed flat on Tuesday, despite better than expected GDP growth for the second quarter, with the local bourse mainly influenced by the protracted trade war between the US and China.
US stocks fell on Tuesday as data showed factory activity for August shrank for the first time since 2016, renewing fears that a drawn-out trade US-Sino trade war could tip the world’s largest economy into recession. Shortly after the JSE closed, the Dow was down 1.40%.
European shares closed lower yesterday as weak US factory data added to worries about global growth, while uncertainty over Britain’s chaotic exit from the European Union knocked the FTSE 100 lower. Shortly after the JSE closed, the FTSE 100 lost 0.37%, France's CAC 40 dropped to 0.48% and Germany's DAX 30 was 0.24% lower.
Hong Kong stocks fell on Tuesday as the deepening political crisis threatened to plunge the city into an economic recession, while festering US-Sino trade tensions continued to curb risk appetite. The Hang Seng index fell 0.37%.
Japanese shares closed flat on Tuesday as a weaker yen propped up exporting firms, although negative factors including the US-China trade war and Brexit concerns curbed market sentiment. The Nikkei ended the day up 0.02%.
The rand was firmer on Tuesday afternoon as investors reacted to better-than-expected GDP growth in the second quarter. With the economy growing by 3.10% after a decline of 3.10% in quarter one. At 20h00 a dollar traded at R15.11.
Gold prices held steady on Tuesday as uncertainties surrounding US-China trade relations and Britain's departure from the EU offset pressure from a stronger dollar. At 20h00, an ounce of gold traded at $1 546.93.
Oil prices fell on Tuesday, weighed down by the protracted US-China trade dispute as well as rising Opec and Russian oil output. At 20h00, an barrel of Brent crude traded at $58.50.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer