Apologies, It seems that we couldn't find any results for ""
Try these search tips:
Please select which division you would like to log in to.
Please select which division you would like to register for.
The JSE closed 0.26% down on Monday, breaking a five-day winning streak, after the International Monetary Fund (IMF) cut SA’s growth forecasts from 1.10% to 0.80% for 2020.
Earlier the month, the World Bank also cut 2020 estimates for SA from 1.50% to 0.90%.
US markets were closed due to a public holiday.
European indices were flat on Monday, pausing earlier gains, as investors awaited the European Central Bank’s first policy meeting for 2020 as well as a week
filled with economic data releases. The pan STOXX 600 Index fell 0.14% for the day.
Asian markets took a dip on Monday as investors prepared for the upcoming Chinese New Year and because of pessimism towards Hong Kong’s economy fuelled by the
struggling tourism industry. The Hang Seng Index ended the day 0.90% weaker.
The Nikkei reached a 15-month high on Monday, boosted by investor optimism about the US-China Phase 1 deal and strong US housing data released on Friday.
The Japanese index closed 0.18% firmer.
The rand reached a six-week low on Monday as investor concerns regarding SA’s economic health grew after the IMF cut forecasts.
“The rand is reflecting the severe weakness of the deteriorated state capacity,” an economist stated. At 19h55, the rand traded R14.50 to the US dollar.
Bullion prices rose on Monday due to anxiety in the markets around US President Donald Trump’s impeachment proceedings as well as the persistent tension in
the Middle East. An ounce of gold cost $1 560.80 at 19h55.
Oil prices reached a one-week high on Monday as Libya began shutting down production at two large oil bases “amid a military blockade, which reduced crude flows
from the OPEC member to a trickle”. At 19h55, a barrel of Brent crude traded for $65.78.
Source: Reuters, Business Day, Trading Economics
Chief Investment Officer