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The local market performed stronger on Monday, moved by positive health reports about US President Donald Trump and talks of new US fiscal stimulus plans. The All Share closed up by 0.56%.
Wall Street opened stronger on Monday because of reports stating that Trump’s health improved enough that he could be released from hospital on Monday. The Nasdaq reported an increase of 1.88% at 18h50.
European markets reached a two-week high at the start of the week due to uplifting news around Trump’s health, a possible US stimulus package, and an array of deal-making activities. The European STOXX 600 stood 0.81% higher at 18h50.
The Hang Seng ended 1.32% in the green on Monday on the back of reports that Trump’s health improved.
The Nikkei gained 1.23% on Monday, thanks to news that Trump might be sent home as well as increased trade in, among other value firms, railway companies.
The rand had a good start to the week as it extended gains for the sixth session in a row. At 18h50, the local currency traded at R16.56/$.
Gold rose about 1% on Monday, boosted by a softer dollar and the possibility of further US economic stimulus plans. Spot gold had risen to $1 916.41/oz by 18h50.
Oil prices jumped on Monday as positive news related to Trump’s health lifted investor sentiment, and the escalated oil worker strike in Norway led to the closure of six oil and gas fields. A barrel of Brent crude traded at $41.28 at 18h50.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer