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Due to a resurgence
in COVID-19 cases in some countries across the world, the All Share dropped by
0.90% on Tuesday.
US stocks fell after US House Speaker Nancy Pelosi dismissed the latest COVID-19 relief offer of about $1.8 trillion from the Trump administration. At 19h15 the S&P 500 lost 0.36%.
European stocks took a knock after Johnson & Johnson’s halted its COVID-19 clinical trials on Tuesday, fuelling uncertainties over how long it’ll take to develop a vaccine. At 19h20, Germany’s DAX was down 0.91%.
Chinese stocks declined as investors locked in
profits from a rally in the previous session following reports of new COVID-19
infections in the eastern port city of Qingdao. The Shanghai Composite index
Japanese shares ended higher on Tuesday following an uptick in Apple-related stocks as investors looked forward to the launch of the latest iPhone 12 with 5G capabilities. The Nikkei gained 0.18% at 19h30.
At 19h45, the rand weakened to R16.46/$,
R19.32/€ and R21.30/£ as a new cluster of COVID-19 cases in Europe and
increased US political uncertainty weighed on the currency.
At 19h45, spot gold shed over 0.70% amid a
stronger dollar environment but prospects for more US fiscal aid trimmed losses.
Brent crude gained 1.81% at 20h00, trading at $42.25 a barrel as better-than-expected data from China countered oversupply concerns.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer