Global markets traded in the green on Monday after a better-than-expected US jobs report and increased business activities in Europe boosted sentiment, despite concerns about rising infections of the new Covid-19 Delta variant in some countries.
According to Reuters: “French shares also recouped losses sustained after Health Minister Olivier Veran warned that France could be heading for a fourth wave of the pandemic due to the Delta variant.”
However, Japanese shares fell by 0.64% following a surge of infections in Tokyo a few weeks before hosting the Olympics.
Locally data has shown that Covid-19 deaths in the third wave have now surpassed the death rate of the first wave.
This combined with decreases in the price of Naspers (JO:NPNJn), Prosus (JO:PRXJn) and Steinhoff (JO:SNHJ) caused the local bourse to close 0.24% in the red.
According to Business Day: “Shares in Steinhoff International fell the most in about 15 months after a Western Cape High Court ruling.
On Friday, the court voided a key component of Steinhoff's (JO:SNHJ) settlement plan, finding it had violated the Companies Act when restructuring debt in 2019 — something that had been critical for allowing the group to proceed with its plans for settling lawsuits.”
Britain's FTSE 100 closed up by 0.58% after Prime Minister Boris Johnson said Covid-19 restrictions would be relaxed from 19 July 2021.
Oil, gold and platinum traded higher in commodities markets at 19h30 last night.
With a barrel of Brent crude trading at $77.64 after OPEC+ postponed a meeting where the output supply of this dark gold would have been discussed.
US markets were closed for the Independence Day weekend.
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