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.
Despite the rand tumbling on Wednesday amid confusion around the South African Reserve Bank's (SARB) role, the local market still ended the day in the green after being lifted by positive global sentiment. At the end of trade, the All Share rose 1.05%.
US markets opened higher on Wednesday thanks to positive (yet low) private jobs data and as US Federal Reserve Chairman, Jerome Powell announced that interest rate cuts are likely. Shortly after the JSE closed, the Dow Jones was 0.47% up.
European shares continued climbing on Wednesday even though tensions rose between the European Commission and Italy concerning Italy’s debt levels. The STOXX 600 closed 0.38% higher.
On Wednesday, Asian markets made up some of the week’s losses on the back of comments by Powell that US interest rates could be lowered this year. The Hang Seng was 0.59% in the green.
The Nikkei reached its highest point in over two months on Wednesday after Powell’s comments lifted cyclical shares. At the end of trade, the Nikkei was up 1.80%.
The local currency fell on Wednesday as it was weighed down by contradicting messages from government about SARB’s role regarding unemployment. At 18h20, the rand traded at R14.88 against the dollar.
Bullion prices soared on Wednesday, boosted by investors flocking to safe-haven investments in fear of the effect the trade war might have on markets. At 18h20, an ounce of spot gold cost $1 329.76.
Oil prices plummeted on Wednesday as US stockpiles rose unexpectedly, pulling the West Texas Intermediate (WTI) crude futures down 4%. At 18h20, a barrel of Brent crude traded at $60.89.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer