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The JSE started the week in positive territory thanks to risk-on trade and Naspers’s strong performance. At the closing bell, the All Share was 0.45% higher.
On Monday, the main indices in the US opened higher as the new earnings season started on a positive note when Citigroup’s results outperformed expectations. At 19h00, the Nasdaq traded 0.59% in the green.
It was a strong start to the week for European shares on the back of upbeat Chinese data that boosted trade-sensitive German equities. The pan-European STOXX 600 Index closed the day 0.23% in the green.
Asian markets rose on Monday after the release of encouraging Chinese economic data left investors positive. At 19h05, the Hang Seng stood 0.21% in the green.
Japanese markets were closed due to a public holiday.
On Monday, the local currency recorded its fourth uninterrupted day of gains as it headed to the R13.85/$ threshold, but could not quite breakthrough. At 19h05, the rand traded R13.92 against the dollar.
Bullion prices lost some ground on Monday due to investors flocking to equities after China released optimistic economic data. At 19h05, spot gold traded at $1 413.03 an ounce.
Oil prices slid on Monday after reports that “the impact of a tropical storm on the US Gulf Coast production and refining would be short-lived”, and that the positive, yet slow, Chinese data might hamper crude demands. At 19h05, a barrel of Brent crude was trading at $66.78.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer