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The JSE closed down 0.99% on Thursday, falling across most sectors as sentiment was dampened by COVID-19 vaccine progress losing steam and the South African Reserve Bank (SARB) indicating that the next round of interest rates could be an increase.
Wall Street opened lower on Thursday in light of an unexpected rise in jobless claims and the surging number of COVID-19 cases rising concerns about the country’s economic revival.
European shares ended Thursday with sharp losses as the increase in COVID-19 infections, especially in the US, created fears around more shutdowns. The STOXX 600 ended the day 0.75% lower.
The Hang Seng ended Thursday 0.68% lower at 26 357 points as the materials and property sectors struggled; however, losses were capped by consumer firms.
The Nikkei closed 0.36% in the red on Thursday as Tokyo recorded a record number of 500 daily infections and issued a warning about behaviour changes.
Although the local currency
lost earlier gains on Thursday after the SARB signalled that interest rates
could be increased at the next meeting, it made up ground by the close of the
JSE. At 20h00, the rand traded at R15.45/$.
Gold prices fell about 1% on Thursday due to a stronger dollar and COVID-19 vaccine optimism. Gold traded at $1 864.82/oz at 20h00.
Despite vaccine optimism, oil prices fell on Thursday, trading at $43.78 a barrel at 20h00, as the increase in infections raised demand worries.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer