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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 4 December 2018
South Africa
The JSE started December on a positive note, increasing by more than 2% in broad-based gains, as markets cheered easing US-China trade tension. Risk assets were boosted by news of a 90-day truce between the world's two-largest economies. The All Share closed up by 2.79%.
United States
A truce between US and Chinese leaders on trade tariffs boosted global markets on Monday. Shortly after the JSE closed the Dow was up by 1.11%.
Europe
European shares closed higher on Monday, with Germany's DAX — the most sensitive to China and trade war fears — leading the way with a 2.50% rise to its highest level since November 14. Shortly after the JSE closed the FTSE 100 had lifted 1.47%, the CAC 40 by 1.14% and the DAX 30 by 2.02%.
Hong Kong
Chinese stock markets surged, bond futures fell and its currency strengthened on Monday after a closely watched meeting between Chinese and US leaders produced a ceasefire in their countries’ trade conflict. The deal agreed to at the G20 Summit halts additional tariffs that were due to take effect on 1 January 2019. China’s benchmark Shanghai Composite index jumped 2.30% after the JSE’s close.
Japan
The Nikkei surged to a six-week high on Monday after the US and China suspended the implimentation of new tariffs and agreed to try to reach a trade deal within 90 days. The Nikkei share average soared by more than 1% after the JSE closed.
Rand
The rand held onto its earlier gains on Monday, continuing to be lifted by a surge on risk-on trade after the US and China agreed to a truce in their ongoing trade war. At 19h50 a dollar traded for R13.66.
Precious metals
Gold climbed to a near one-month high on Monday as the dollar weakened after the US and China agreed during the G20 Summit in Argentina to a temporary truce in their trade war. Spot gold traded at $1 232.80 an ounce at 19h50.
Oil
Brent crude climbed more than 4% to $61.62 a barrel shortly after the JSE closed. The price of oil was lifted by both improved prospects for global trade and ahead of a meeting of the oil cartel Opec this week.
The JSE started December on a positive note, increasing by more than 2% in broad-based gains, as markets cheered easing US-China trade tension. Risk assets were boosted by news of a 90-day truce between the world's two-largest economies. The All Share closed up by 2.79%.
United States
A truce between US and Chinese leaders on trade tariffs boosted global markets on Monday. Shortly after the JSE closed the Dow was up by 1.11%.
Europe
European shares closed higher on Monday, with Germany's DAX — the most sensitive to China and trade war fears — leading the way with a 2.50% rise to its highest level since November 14. Shortly after the JSE closed the FTSE 100 had lifted 1.47%, the CAC 40 by 1.14% and the DAX 30 by 2.02%.
Hong Kong
Chinese stock markets surged, bond futures fell and its currency strengthened on Monday after a closely watched meeting between Chinese and US leaders produced a ceasefire in their countries’ trade conflict. The deal agreed to at the G20 Summit halts additional tariffs that were due to take effect on 1 January 2019. China’s benchmark Shanghai Composite index jumped 2.30% after the JSE’s close.
Japan
The Nikkei surged to a six-week high on Monday after the US and China suspended the implimentation of new tariffs and agreed to try to reach a trade deal within 90 days. The Nikkei share average soared by more than 1% after the JSE closed.
Rand
The rand held onto its earlier gains on Monday, continuing to be lifted by a surge on risk-on trade after the US and China agreed to a truce in their ongoing trade war. At 19h50 a dollar traded for R13.66.
Precious metals
Gold climbed to a near one-month high on Monday as the dollar weakened after the US and China agreed during the G20 Summit in Argentina to a temporary truce in their trade war. Spot gold traded at $1 232.80 an ounce at 19h50.
Oil
Brent crude climbed more than 4% to $61.62 a barrel shortly after the JSE closed. The price of oil was lifted by both improved prospects for global trade and ahead of a meeting of the oil cartel Opec this week.
Our daily rant..
South Africa's latest GDP numbers (for quarter 3 2018) will be published later today, assuming Stats SA's website is online. When we checked this morning the website failed to load. As soon as the GDP data is released we will update our South Africa GDP page.