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The JSE fell on Monday after a slump in retailers continued amid markets waiting for direction from US President Donald Trump’s state of the union address on Tuesday and President Cyril Ramaphosa’s state of the nation address on Thursday. The All Share lost 1%.
Wall Street gained on Monday, boosted by technology shares ahead of Alphabet’s earnings, the last FAANG stock to post quarterly results. At 20h45 the Dow was up by 0.26%. Today markets will watch Trump’s state of the union address.
European shares were flat on Monday as the banking sector fell following poor results from Julius Baer. Just after the JSE closed, the FTSE 100 had gained 0.20%, while both the CAC 40 and DAX 30 dropped by 0.70% and 0.41% respectively.
Mainland Chinese markets are shut for the week for the Lunar New Year holiday, while the Hong Kong market traded half day on Monday, ahead of this three-day festival.
The Nikkei climbed on Monday, led by financial stocks following solid economic data from the US. The Nikkei share average rose 0.46% at the midday break.
The rand was weaker on Monday, extending losses it suffered over the weekend. At 21h00 a dollar cost R13.40.
Gold prices slipped on Monday as global shares firmed on upbeat economic data from the US and a stronger greenback. At 21h00 an ounce of gold traded at $1 320.75.
Oil traded close to $62.75 a barrel on Monday as Opec-led supply cuts and US sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an economic slowdown.
Source: Reuters, Business Day, Trading Economics
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