The JSE all-share index closing the day at 66 972 from its opening price of 66 013.
On Thursday the South African equity markets saw Steinhoff International Holdings N.V. (SNH) being the biggest loser of the day with a -13.98% loss moving from R2.79 to close the day at R2.40, whilst Hulamin Ltd. (HLM) saw a 28.53% gain moving from R3.19 to close the day at R4.10, making it the biggest winner in the equity market for two consecutive days.
The Rand continued on its recovery trajectory against the US Dollar on Wednesday, moving from R14.81 to R14.78
Commodities show strong signs of recovery on Thursday with most of our listed commodities closing higher than their open prices
Gold was up by 0.2% with a move from 1 726.37 USD/oz to 1 795.87 USD/oz.
Platinum gained by 3.6%, closing at 1 059.51 USD/oz from its opening price of 1 023.13 USD/oz.
Copper saw a 3.8% gain, closing Thursday on 10 131.00 USD/t from its opening price of 9 759.50 USD/t
Oil prices recovered with Brent Crude moving from 83.18 USD to close at 84.00 USD.
Bulls are in control, both in the bond market and on Wall Street. – Overlooked the hawkish Fed implications from the record strength in PPI and the lowest claims readings since before the pandemic.
Yields declined and Treasuries are in the green on short covering and dip buying, recovering from the recent aggressive selloff. US Treasury yield has lifted 1.8 bp to 1.53%.
China will loosen restrictions on home loans and boost lending & bank added enough medium term funds to keep liquidity in the system steady.
Equities up are up with the JPN225 managing a 1.6% gain and US futures are also higher, led by a 0.4% rise in the USA100.
Oil lifted above $81.99. – Prices quickly backed up after a larger than expected stock build in the US.
Improved market sentiment, which has lifted global stocks, commodity prices and bond yields, is also weighing on the safe-haven Dollar.
The December 10-year Bund future is slightly higher, US Treasury futures slightly in the red, as stock futures move higher in both Europe and North America after a good session for equities across Asia overnight. Market sentiment improved and GER30 and UK100 futures are currently up 0.4% and 0.3% respectively, while a 0.4% rise in the USA100 is leading US futures. EGB yields had dropped back markedly yesterday, but in the UK money markets are still bracing for an earlier than expected lift off on rates,
Things to watch today
Japan Tertiary Industry Activity Index MoM, U.S. Core Retail Sales MoM, U.S. Retail Sales MoM
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