SA stocks in fifth weekly gain, Telkom slips on CEO exit Fri, 23 Jul 2021 13:33:46 +0000
South African stocks advanced for a fourth consecutive session, the longest winning streak since June 2.
The rand is 60% cheaper than it theoretically should be against the dollar, the updated Economist’s Big Mac Index shows.
Asian markets rallied Thursday as worries about the Delta variant were overshadowed by more strong earnings reports that indicated companies were faring well as the global economy emerges from last year's pandemic-induced collapse.
Equity markets struggled to maintain early gains Wednesday and were mixed in later trade despite a strong rebound in New York, with optimism over the global economy and concerns about the fast-spreading Delta variant fuelling volatility.
The foundation that finances and organises the Nobel Prizes announced Tuesday that it had sold off its oil sector assets, after also withdrawing from the coal industry.
European stocks and oil prices rebounded only slightly Tuesday after a global rout fuelled largely by fear that the fast-spreading Delta virus variant could choke off the world's economic recovery.
The US oil price tumbled more than 6% on Monday, a day after producers decided to increase output and as stock markets slumped with surging Covid cases threatening economic recovery.
Asian markets edged lower on Friday as investors weighed concerns over economic growth and virus outbreaks and risk aversion set in following dovish comments from the Federal Reserve chief.
Negative foreign sentiment toward South African stocks was evident in the large outflows recorded Tuesday, with non-residents selling R4 billion of local equities, the most since November last year.
The rand dropped to a three-month low on Tuesday and local and hard currency bonds suffered as violent protests over economic hardship and inequality rippled across the country.
The Dow flirted with its first-ever close above 35,000 points Monday as US stocks turned in another record-filled session ahead of a heavy schedule of earnings releases and economic reports.
"It is difficult to tell which is the greater emergency in South Africa right now."
Tokyo's benchmark Nikkei index closed up more than 2.2 percent Monday, snapping a three-day losing streak as investors took heart from Wall Street rallies and expectations of strong corporate results.
Global equity markets were hammered Thursday as Japan's decision to bar fans from the Olympics focused attention on the continued threat from Covid-19 to the global recovery.
Stock markets slid on Thursday as fears of strong inflation mounted.
Asian markets were broadly down Thursday after the Fed signalled a possible inflation-induced policy change, while concerns lingered over China's crackdown on tech giants.
Oil prices finished lower again Wednesday following a choppy session while equities mostly gained as the markets digested Federal Reserve minutes signaling a policy change was coming but not imminent.
The S&P 500 and Nasdaq edged to fresh records Wednesday as the markets digested Federal Reserve minutes signaling a policy change was coming but not imminent.
European stock markets rebounded Wednesday as investors looked ahead to minutes from the Federal Reserve's last policy meeting for clues on future interest rate hikes.
Wall Street stocks advanced early Wednesday as investors monitored falling US Treasury yields and awaited the release of Federal Reserve meeting minutes.