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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 5 December 2018
South Africa
Fading optimism about the ceasefire in the US-China trade-war put some pressure on the JSE on Tuesday, but the local bourse pushed higher regardless due to a strong showing by Naspers, retailers and upbeat GDP numbers. The All Share closed 0.30% in the green.
United States
US stocks dropped on Tuesday, as scepticism over a breakthrough in China trade talks weighed on industrial and technology companies. The Dow Jones and the S&P 500 were down 0.60% and the Nasdaq traded 0.40% lower an hour into trading.
Europe
European shares traded in negative territory on Tuesday as investors started to question whether the truce agreed by the United States and China on their trade dispute would lead to a long-term deal. The pan-European STOXX 600 fell 0.30%.
Hong Kong
Hong Kong stocks edged up on Tuesday, but excitement stemming from the ceasefire between China and the US faded, with investors shifting their attention to economic fundamentals. The Hang Seng index rose 0.30%.
Japan
The Nikkei tumbled on Tuesday afternoon with foreign investors selling off exporters and financials, while profit-taking continued on cyclical stocks that rallied the day before. The Nikkei share average fell 2.20%.
Rand
The rand strengthened more than 0.70% after Statistics SA reported that the third quarter's GDP came in at 2.20%, far better than economists expected. At 17h30 a dollar traded for R13.74.
Precious metals
Gold climbed to a more than five-week high on Tuesday as the dollar sagged after the US and China agreed on a 90-day pause to fresh trade tariffs. Spot gold traded at $1 239.34 at 17h30.
Oil
Oil prices rose more than 1% on Tuesday, extending gains ahead of expected output cuts by producer cartel Opec and a mandated reduction in Canadian supply. At 17h30 a barrel of Brent crude traded for $62.62.
Fading optimism about the ceasefire in the US-China trade-war put some pressure on the JSE on Tuesday, but the local bourse pushed higher regardless due to a strong showing by Naspers, retailers and upbeat GDP numbers. The All Share closed 0.30% in the green.
United States
US stocks dropped on Tuesday, as scepticism over a breakthrough in China trade talks weighed on industrial and technology companies. The Dow Jones and the S&P 500 were down 0.60% and the Nasdaq traded 0.40% lower an hour into trading.
Europe
European shares traded in negative territory on Tuesday as investors started to question whether the truce agreed by the United States and China on their trade dispute would lead to a long-term deal. The pan-European STOXX 600 fell 0.30%.
Hong Kong
Hong Kong stocks edged up on Tuesday, but excitement stemming from the ceasefire between China and the US faded, with investors shifting their attention to economic fundamentals. The Hang Seng index rose 0.30%.
Japan
The Nikkei tumbled on Tuesday afternoon with foreign investors selling off exporters and financials, while profit-taking continued on cyclical stocks that rallied the day before. The Nikkei share average fell 2.20%.
Rand
The rand strengthened more than 0.70% after Statistics SA reported that the third quarter's GDP came in at 2.20%, far better than economists expected. At 17h30 a dollar traded for R13.74.
Precious metals
Gold climbed to a more than five-week high on Tuesday as the dollar sagged after the US and China agreed on a 90-day pause to fresh trade tariffs. Spot gold traded at $1 239.34 at 17h30.
Oil
Oil prices rose more than 1% on Tuesday, extending gains ahead of expected output cuts by producer cartel Opec and a mandated reduction in Canadian supply. At 17h30 a barrel of Brent crude traded for $62.62.
Our daily rant..
South Africa's latest GDP numbers (for quarter 3 2018) was published yesterday, and the quarter on quarter seasonally adjusted annualised growth rate for the 3rd quarter of 2018 came in at +2.2%. So South Africa has exited the recession it was in due to two negative quarters of growth during the 1st and 2nd quarter of 2018. It has to be noted that the 2nd quarter growth rates were revised upwards from -0.7% to -0.4%. Data is revised by the stats agency as more data becomes available after the initial numbers were published, This is common practice and happens across the world. For more on South Africa's GDP see our South Africa GDP page.