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Despite news on Tuesday that the local economy contracted the most in three decades, the JSE still managed to keep its head above water, closing flat at 0.07%.
Wall Street opened lower yesterday as investors continued to dump technology stocks. At 19h00, the Nasdaq traded 1.93% in the red.
Brexit fears returned to European markets on Tuesday after Britain said it might have to leave the European Union without a complete trade agreement. The CAC 40 closed down by 1.59%.
The Hang Seng closed up by 0.14% on Tuesday with financial and telecoms shares contributing the most on the day.
The Nikkei closed 0.80% in the green on Tuesday as investors continued to hope for a recovery in global economic growth following steeps declines across the world in GDP growth rates.
The rand held steady at R16.89/$ at 19h00 on Tuesday after weakening close to R17/$ after GDP growth rate numbers showed a steep annualised contraction of 51% in the second quarter of the year.
A stronger dollar kept gold prices range-bound on Tuesday, with an ounce trading at $1 938.28 at 19h00.
prices fell below $40 a barrel on Tuesday after Saudi Arabia cut its October
selling prices due to a rise in global COVID-19 cases.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer