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The JSE closed in the red on Thursday, amid risk-off trade on global markets. The All Share fell 1.26%.
US shares extended losses on Thursday after a CNBC report said a meeting between President Donald Trump and Chinese President Xi Jinping was “highly unlikely” to take place by a key March deadline, set by the two countries for reaching a trade deal.
The pound firmed a little after the Bank of England's (BoE) monetary policy announcement yesterday. The BoE left interest rates unchanged, with analysts citing an upbeat assessment of the country’s economic prospects as a reason for sterling strength.
Mainland Chinese markets are shut for the week for the Lunar New Year holiday.
Japanese stocks fell on Thursday due to concerns about slowing corporate earnings growth. The Nikkei share average dropped 0.59%.
The rand weakened during President Cyril Ramaphosa’s State of the Nation (SONA) address last night. The rand was at R13.60/$ from Wednesday’s R13.54 just after the JSE closed. At 19h20 the rand weakened to R13.65/$.
Gold was lower on Thursday, weighed down by a stronger dollar, but uncertainties around the Sino-US trade spat and concerns about slowing global growth supported the metal. At 19h20 spot gold traded at $1 306.60 an ounce.
Oil steadied on Thursday as growing expectations that global supply could fall significantly short of demand this year. At 19h25 a barrel of Brent crude traded at $60.63 a barrel.
Source: Reuters, Business Day, Trading Economics
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