Market Commentary - Equities Jump As Tariff Talk Eases

Market Commentary - Equities Jump As Tariff Talk Eases

Talks of tariffs being eliminated on automobiles imported to the US spurred a positive sentiment among global equity markets on Thursday with shares of European Automakers rising sharply.

This lifted the DAX and CAC 40 by 1.19% & 0.86% respectively while despite a stronger Pound, the FTSE100 also found support on the day, rising by 0.40%.

In the US, the Dow Jones Industrial Average gained, lead by Intel (+2.59%) while the S&P 500 and Nasdaq Composite added 0.86% & 1.12% respectively.

On the local market, gains were driven by Vodacom (2.37%) and Growthpoint (2.04%) while the shares that failed to find support were Sanlam and Investec which were both lower by over 2% each.

JSE

All Shares Index -0.32%

Top 40 Index -0.35%

Resources 10 +0.64%

Financial 15 -0.60%

Industrial 25 -0.71%

For the day, some of the major movers on the JSE were as follows:

In currencies, the South African Rand trades as follows:

USDZAR -0.24% to 13.54
GBPZAR -0.19% to 17.90
EURZAR -0.19% to 15.83

Gold trades at $1256

Platinum at $846

Brent Crude Oil at $77.29

International Markets

This morning, Asian equities are as follows:

Nikkei 225 (+1.13%)
Hang Seng (-0.45%)
Shanghai Composite (-0.34%)

Latam Markets closed as follows:

Merval 25 (+0.40%)
Bovespa (-0.25%)
INMEX (+2.39%)

Aus miners:

BHP Billiton (+1.06%)
Rio Tinto (+1.10%)
S32 (+2.83%)

FANGs:

Facebook (+2.47%)

Amazon (+0.48%)

Netflix (+1.94%)

Google (+2.43%)

FTSE Miners:
Anglo American plc (+2.82%)
BHP Billiton plc (+1.73%)
Glencore plc (+2.08%)

Alibaba Holdings (0.37%)

Tencent Holdings (-0.62%)

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