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The JSE pushed higher on Wednesday, while global markets paused as investors waited for new catalysts. The All Share gained 0.68%.
Wall Street edged lower on Wednesday as disappointing forecasts from videogame makers pulled the communications sector lower. The Nasdaq was up 0.74% at 19h15.
European shares were lower on Wednesday as weak results from banks and the carmaker Daimler brought an end to the market’s six-day rally. UK Prime Minister Theresa May’s trip to Brussels today may also generate headlines, as she attempts to negotiate further Brexit concessions with the EU.
Mainland Chinese markets are shut for the week for the Lunar New Year holiday.
Japan’s Nikkei edged up on Wednesday with markets barely reacting to US President Donald Trump’s State of the Union address. The Nikkei share average rose 0.14%.
The rand was weaker on Wednesday, with most investors waiting for President Cyril Ramaphosa’s State of the Nation (SONA) address expected today. One dollar cost R13.55 at 19h25.
Gains in gold were capped by a firmer dollar on Wednesday as investors waited for further news on US-China relations after Trump’s speech offered little clarity on the trade front. At 19h30 spot gold traded at $1 313.35 an ounce.
Oil prices edged higher on Wednesday, although concerns over the outlook for the global economy capped gains. At 19h30 a barrel of Brent crude traded at $61.98 a barrel.
Source: Reuters, Business Day, Trading Economics
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