Tradewise Report

on . Posted in Investment general

The Nikkei share average slipped lower on Tuesday in volatile trade as investors took their profits after the recent rally in the shares of exporters as the Yen slowed down with its weaker trend, but losses were limited on the back of a resilient Wall Street overnight.

The Hang Seng Index in Hong Kong traded lower but in a narrow range on Tuesday, with the shares on mainland China also slipping lower as investors got out of recent outperformers ahead of a flood of initial public offerings (IPOs).

According to Reuters, European markets are expected to open lower on Tuesday, giving back some of the previous session's strong gains on the back of possible new stimulus measures from the European Central Bank (ECB), while the FTSE 100 Index in London is seen putting in a rally after being closed for a holiday yesterday.

Reuters reports that the S&P 500 Index closed at another record high on Tuesday, boosted by financials and biotechnology shares, although the day’s gains were broad enough for each of the 10 primary sectors on the benchmark S&P index to climb higher.

The JSE All Share Index ended 0.47% higher on Monday, with the spotlight on technology group Pinnacle Holdings gaining 43.5% after attempted bribery charges against an executive director were dropped due to insufficient evidence.

The Rand was last trading slightly firmer at R10.7010 against the US Dollar, with the Euro also quoted stronger at R14.1314 but the British Pound is weaker at R17.7195.

The gold price has recovered on some bargain hunting on Tuesday despite a firmer U.S. Dollar, as well as a rally in equity markets limiting the precious metal's appeal as an alternative investment. Gold was last trading at $1,282.85, with the platinum price quoted at $1,420.60, while the palladium price was last trading at the $884.75 level.

Brent was last trading slightly higher at $102.77 a barrel.