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Vaccine Hopes and Stimulus Boost Markets

Published 2020/07/22, 10:17
Updated 2023/07/09, 12:31
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The JSE rose after EU leaders approved a landmark stimulus plan and on increased COVID-19 vaccine hopes. The All Share gained 0.28%.

United States
Positive earnings from corporations including IBM (NYSE:IBM) and Coca-Cola (NYSE:KO), coupled with hopes for additional fiscal stimulus lifted Wall Street on Tuesday. At 19h00, the S&P 500 gained 0.49%.

Europe
European stocks peaked at a four-month high after EU leaders agreed on a stimulus package to resuscitate the bloc’s economies. At 19h05, Germany’s DAX gained 0.96%.

Hong Kong
Hong Kong stocks rose on Tuesday as investors cheered the EU’s stimulus plan and promising study results for a COVID-19 vaccine. The Hang Seng gained 2.31%.

Japan
Japanese shares advanced on signs of a possible breakthrough in the search for a coronavirus vaccine. The benchmark Nikkei average rose 0.73%.

Rand
The rand firmed on Tuesday as risk appetite returned to the markets after EU leaders approved a stimulus package worth €750 billion. At 19h15, the rand traded at R16.45.

Precious metals
Gold traded near a nine-year peak as expectations for inflation from additional economic stimulus lifted demand for the metal. US gold futures rose 1.38%.

Oil
Promising news about vaccine trials and a €750 billion stimulus package lifted oil prices on Tuesday but gains were trimmed by concerns of a slow economic recovery. Brent crude gained 2.36%.


Full article



PSG Wealth Daily Investment Update, 22 July 2020



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