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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 7 November 2018
South Africa
The JSE closed down on Tuesday as global markets waited for the US midterm election results, and banks and rand hedges performed poorly for the day. At the end of business, the All Share and the Top 40 were both down 0.85%.
United States
While the US midterm elections were underway, markets remained flat in anticipation of the outcome, which could shape US President Donald Trump’s future tax and trade policies.
Europe
European markets ended a fluctuating Tuesday in the red, off the back of lower-than-expected company results from Zalando and as they awaited the US results. The STOXX 600 closed 0.20% down.
Hong Kong
The Hang Seng ended Tuesday in the green after Chinese Premier, Li Keqiang, announced the implementation of policy steps to support private companies. At 19h45, while the Hang Seng was up 0.69%, the Shanghai was down 0.23%.
Japan
Although investors remained cautious on Tuesday after reports that Apple won’t boost production for the iPhone XR, the Nikkei still rallied thanks to Toyota shares rising. At 19h45, the Nikkei had climbed 1.05%.
Rand
The rand lost some steam on Tuesday as world markets waited for clear direction from the US midterm election results. At 19h00, the rand was down 0.20% to the dollar, 0.39% to the pound and 0.17% to the euro.
Precious metals
On Tuesday, investors kept a close eye on the US midterm election results in fear of market fallouts that could boost investments in precious metal. At 19h00, spot gold cost $1 225.64 an ounce.
Oil
After it was announced that the US would hold off their sanctions on Iranian oil, crude prices slid over 1% on Tuesday. At 19h35, a barrel of Brent crude traded $71.38.
The JSE closed down on Tuesday as global markets waited for the US midterm election results, and banks and rand hedges performed poorly for the day. At the end of business, the All Share and the Top 40 were both down 0.85%.
United States
While the US midterm elections were underway, markets remained flat in anticipation of the outcome, which could shape US President Donald Trump’s future tax and trade policies.
Europe
European markets ended a fluctuating Tuesday in the red, off the back of lower-than-expected company results from Zalando and as they awaited the US results. The STOXX 600 closed 0.20% down.
Hong Kong
The Hang Seng ended Tuesday in the green after Chinese Premier, Li Keqiang, announced the implementation of policy steps to support private companies. At 19h45, while the Hang Seng was up 0.69%, the Shanghai was down 0.23%.
Japan
Although investors remained cautious on Tuesday after reports that Apple won’t boost production for the iPhone XR, the Nikkei still rallied thanks to Toyota shares rising. At 19h45, the Nikkei had climbed 1.05%.
Rand
The rand lost some steam on Tuesday as world markets waited for clear direction from the US midterm election results. At 19h00, the rand was down 0.20% to the dollar, 0.39% to the pound and 0.17% to the euro.
Precious metals
On Tuesday, investors kept a close eye on the US midterm election results in fear of market fallouts that could boost investments in precious metal. At 19h00, spot gold cost $1 225.64 an ounce.
Oil
After it was announced that the US would hold off their sanctions on Iranian oil, crude prices slid over 1% on Tuesday. At 19h35, a barrel of Brent crude traded $71.38.
Our daily rant..
Sad to see the South African parliament turn into a UFC octagon ring yesterday with Angang and regular bullies the EFF going at it in parliament, and on live TV. Sadly these members have forgotten that they were elected by the public to represent them. We doubt the public would ever want their representatives to represent them with violence. It was a disgraceful showing by numerous political parties and members. One we hope would not be repeated any time soon. But one has to wonder, why is it every time there is unruly behavior in parliament the EFF is right in the middle of it?