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The JSE ended lower on Friday as US jobs data surprised to the upside, forcing investors to reverse earlier hopes of interest rate cuts by the US Federal Reserve (Fed). The ALSI fell 0.41%.
US stocks lost ground on Friday after strong job growth in June pushed investors to scale back bets on aggressive interest rate cuts by the Fed. Major US indices were all trading in the red at 18h15.
European shares dropped on Friday as industrial stocks slid after Sweden’s Hexagon gave a downbeat outlook blaming the US-China trade war. The pan-European STOXX 600 Index was down 0.30%.
Hong Kong shares fell slightly on Friday, ahead of the release of US non-farm payrolls data. At the close of trade, the Hang Seng Index was down by 0.07%.
The Nikkei edged higher on Friday as investors kept to the sidelines before the release of a key US jobs report. The index ended 0.20% higher.
The rand shed earlier gains against the dollar on Friday afternoon as the US added more jobs in June than expected. At 18h20, a dollar traded at R14.20.
Gold slid on Friday and was set for its first weekly fall in seven weeks after data showed US jobs growth rebounded strongly in June, lowering the likelihood of an interest rate cut by the Fed this month. An ounce of spot gold traded at $1 397.01 at 18h20.
Brent crude ticked higher on Friday, supported by tensions over Iran and this week’s decision by oil cartel OPEC and its allies to extend a supply cut deal until next year. At 18h20, a barrel of Brent crude traded at $64.96.
Source: Reuters, Business Day, Trading Economics
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