Wednesday , May 12 2021

JSE remains in sales pitch, as oil is reduced to $ 65

As oil producing countries generally recycle dollars into the global financial system, falling prices reduced liquidity and encouraged long-term loans, said strategists for corporate and investment banks Nedbank Mehul Daia and Neels Heineke in their comments.

Under the assumption of a fair value of $ 58 per barrel, that would mean an appreciation of 3 percent of dollars, which would lead to levels of around R15 / $, they said.

Losses on the JSE were broadly based, while general retailers and miners were the worst.

US markets failed to return Tuesday after a sharp sale of tech stock on Monday. Apple continued to reduce stocks, with reduced payroll forecasts from two key vendors who expressed concern over the appearance of the new iPhone, said Dow Jones Nevsvires.

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