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In our continued efforts to give our readers a broad number of views, opinions and information, we continue to provide PSG's daily market updates and add our own daily rant at the end.
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Short summary of PSG's market commentary for 12 December 2018
South Africa
The JSE enjoyed gains on Tuesday following a positive showing by Naspers and upbeat local data, with both mining and manufacturing figures beating market expectations in October. At the close of business, both the All Share and the Top 40 had gained over 1%.
United States
US equities surged on Tuesday following signs of progress in the US-China trade spat, which has continued to rattle markets for months. The Dow gained over 91 points and the S&P 500 ended 0.62% in the green.
Europe
European stocks traded higher on Tuesday as renewed optimism over the US-Sino trade dispute lifted sentiment, after concerns over decelerating global growth battered global markets on Monday. The pan-European STOXX 600 benchmark finished 1.81% higher.
Hong Kong
Stocks in Hong Kong struggled for direction on Tuesday as concerns over a no-deal Brexit and the scandalous arrest of Huawei’s CFO capped gains, ultimately weighing on sentiment. The Hang Seng closed 0.14% in the red.
Japan
The Nikkei fell to near nine-month lows on Tuesday as financial stocks succumbed to the pressure from decelerating global growth, while uncertainty over a trade deal between Tokyo and Washington battered automakers. The Nikkei share average fell 0.48% ending the day at 21 117.00 points.
Rand
The local currency was firmer against major global currencies on Tuesday afternoon, bolstered by positive mining and manufacturing data. Manufacturing production jumped 3% while mining production grew 0.5% in October. At 19h00 the rand traded R14.36 against the dollar.
Precious metals
Gold prices went up on Tuesday on optimism that the US Fed could halt its rate hike cycle in the following year, amid a weakened dollar environment. Spot gold traded for $1 243.59 an ounce.
Oil
Oil prices rose almost $1 on Tuesday rebounding from the losses incurred in the previous trading session, with a boost from gains in global stocks, a weakened dollar environment and an outage disrupting Libyan production. At 19h00 benchmark Brent crude was trading at $60.53 a barrel.
The JSE enjoyed gains on Tuesday following a positive showing by Naspers and upbeat local data, with both mining and manufacturing figures beating market expectations in October. At the close of business, both the All Share and the Top 40 had gained over 1%.
United States
US equities surged on Tuesday following signs of progress in the US-China trade spat, which has continued to rattle markets for months. The Dow gained over 91 points and the S&P 500 ended 0.62% in the green.
Europe
European stocks traded higher on Tuesday as renewed optimism over the US-Sino trade dispute lifted sentiment, after concerns over decelerating global growth battered global markets on Monday. The pan-European STOXX 600 benchmark finished 1.81% higher.
Hong Kong
Stocks in Hong Kong struggled for direction on Tuesday as concerns over a no-deal Brexit and the scandalous arrest of Huawei’s CFO capped gains, ultimately weighing on sentiment. The Hang Seng closed 0.14% in the red.
Japan
The Nikkei fell to near nine-month lows on Tuesday as financial stocks succumbed to the pressure from decelerating global growth, while uncertainty over a trade deal between Tokyo and Washington battered automakers. The Nikkei share average fell 0.48% ending the day at 21 117.00 points.
Rand
The local currency was firmer against major global currencies on Tuesday afternoon, bolstered by positive mining and manufacturing data. Manufacturing production jumped 3% while mining production grew 0.5% in October. At 19h00 the rand traded R14.36 against the dollar.
Precious metals
Gold prices went up on Tuesday on optimism that the US Fed could halt its rate hike cycle in the following year, amid a weakened dollar environment. Spot gold traded for $1 243.59 an ounce.
Oil
Oil prices rose almost $1 on Tuesday rebounding from the losses incurred in the previous trading session, with a boost from gains in global stocks, a weakened dollar environment and an outage disrupting Libyan production. At 19h00 benchmark Brent crude was trading at $60.53 a barrel.
Our daily rant..
The disgusting drivel being spewed by BLF leader Andile Mngxitama has broken SA twitter with a whole host of political parties and civil society groups laying charges against him for hate speech. Yet the ruling ANC, has done nothing and has said nothing about the racial hate and incitement of violence. Once the moral compass for South Africa's society under the leadership of Nelson Mandela and Walter Sisulu, it is now a spineless party just looking to feed at the corruption through. And now their national spokesperson is accused of sexual harassment by his former PA, whom he apparently appointed irregularly, and when she turned down his sexual advances, her pay was cut and she was verbally abused. Nice one ANC.