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The JSE gained slightly on Thursday as China’s move to halve some tariffs on US imports lifted global market sentiment. The All Share rose 0.18%.
Wall Street rose on Thursday on China’s efforts to contain the economic fallout from the coronavirus outbreak, while investors assessed a mixed batch of corporate earnings. After the JSE closed, the Dow was up 0.13%.
European shares climbed on Thursday as China’s intention to cut tariffs on US goods and a swathe of strong bank earnings energised equity markets. Just after the JSE closed, France’s CAC 40 added 0.82%.
Hong Kong shares jumped more than 2.50% on Thursday, after Beijing announced it will slash tariffs on some US imports, in a move to aid an economy pressured by the coronavirus epidemic. At the close of trade, the Hang Seng index was up 2.64%.
Japanese shares jumped on Thursday as investor sentiment was buoyed after China cut tariffs on some imported goods from the United States, lifting some of the gloom from a fast-spreading virus outbreak. The benchmark Nikkei average jumped 2.38%.
The rand was weaker on Thursday after business confidence figures slipped in January. The SA Chamber of Commerce and Industry business confidence index dropped in January; analysts expected an uptick. At 19h30, a dollar traded at R14.87.
Gold inched higher on Thursday as investors evaluated the economic impact of the coronavirus outbreak as the death toll jumped past 500, but the gains in bullion were capped by China’s decision to halve tariffs on US imports. At 19h30, an ounce of spot gold traded at $1 565.70.
Oil prices rose on Thursday amid investor optimism over unconfirmed reports of possible advances in combating the coronavirus outbreak in China. A barrel of Brent crude traded at $55.67 at 19h30.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer