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The JSE ended higher on Tuesday, boosted by a firmer rand and positive results released by FirstRand. However, the pending Brexit vote stole investors’ attention. At the close of trade, the All Share was up 0.21%.
The S&P 500 and the Nasdaq continued to enjoy market gains on Tuesday “as February’s benign inflation data supported the Federal Reserve’s patient approach towards further rate hikes”. At 19h40, the Nasdaq traded up 0.55%.
European markets ended Tuesday flat as hope dwindled that British Prime Minister Theresa May’s Brexit deal would gather enough support at the evening’s vote to lead to an orderly Brexit. The pan-European STOXX 600 index closed 0.06% down.
The Hong Kong bourse ended Tuesday on a high, lifted by positive sentiment around US-China trade talk progress, as well as top performances by the financial, property and energy sectors. At the end of trade, the Hang Seng was 0.97% higher.
On Tuesday the Nikkei reached a six-day high, boosted by strong a performance in the US tech sector, and broad-based buying due to a weaker yen. At 19h40, the Nikkei traded 1.79% up.
On Tuesday the rand gained almost 30 cents on the pound Sterling thanks to reports that some “Eurosceptic” MPs might still vote to reject the latest Brexit terms on Tuesday night. At 19h40, a dollar cost R14.34 and a pound R18.47.
Bullion prices gained some footing on Tuesday after the dollar softened due to weak US consumer price data, and a decline in equity trading before the Brexit vote. At 19h40, an ounce of spot gold was trading at $1 298.22.
Oil prices continued to climb on Tuesday on the back of Saudi Arabia’s announcement to decrease their oil supply in April, as well as a power outage in Venezuela that halted production. At 19h40, a barrel of Brent crude was trading at $66.60.
Source: Reuters, Business Day, Trading Economics
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