Johannesburg Office
Block 16 B
Willowbrook Office Park
Van Hoof Street, Ruimsig
Johannesburg, 1724
Willowbrook Office Park
Van Hoof Street, Ruimsig
Johannesburg, 1724
Despite a quieter week for global markets, the S&P 500 edged passed its February pre-pandemic record high this week.
As infections in the most populous provinces continued to decline over the week (just below 5,000 a day), as expected President Cyril Ramaphosa removed most of the Covid-19 lockdown restrictions on Saturday night.
Despite escalating tensions between the U.S. and China - with this week focusing on President Trump placing restrictions on Chinese social-media apps including TikTok and WeChat - global markets recorded solid gains.
U.S. equities ended mostly higher for the week as big tech held the earnings spotlight.
Escalating tensions between the U.S. and China weighed on global equity markets this week, with the S&P 500 Index briefly turning positive for 2020 before retreating.
China’s GDP grew a better-than-expected 3.2% in the second quarter of this year, reversing a historic 6.8% contraction in the first quarter.
Having crossed the halfway mark of 2020, the “rear-view mirror” will record the first six months of 2020 as one of the most fascinating and volatile periods for financial markets on record.
Equity markets continued to rise this week despite the World Health Organization recording its largest single-day increase of global coronavirus cases since the start of the pandemic on Saturday.
Cape Town Office
Unit C, 4th Floor
Hill House
43 Somerset Road, Green Point
Cape Town, 8005
Hill House
43 Somerset Road, Green Point
Cape Town, 8005