Financial News 18th December 2023

With the festive season well and truly upon us, this will be our last Financial News for 2023. We hope that you have found these weekly posts informative and we will continue to send them out weekly in 2024. From everyone at Hansmeyer and Associates, we would like to wish you a safe and happy festive season and a wonderful 2024.

Market Indicators

South African rand little changed in early deals
South Africa’s rand was little changed early on Monday, holding onto gains from last week as analysts said risk sentiment remained positive. Read the full article here>

Reduced oil flows from Russia heat up oil prices
Oil prices rose on Monday, up nearly 1% in early Asian trade, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption. Read the full Business Day article here>

Asia stocks slide as Fed tempers strong pivot bets: Markets wrap
Asian stocks fell the most in about two weeks after Federal Reserve officials pushed back against bets of aggressive interest rate cuts next year. Read the full Moneyweb article here>

Treasury eyes R250 billion to pull South Africa from the brink
South Africa’s National Treasury is considering withdrawing as much as half of the R497 billion of contingency reserves held by the central bank to help reduce the government’s debt load or fund public-sector wages. Read the full BusinessTech article here>

Wall St on course for higher open, eyes on data
Wall Street’s main stock indexes were on track to open higher on Monday as investors awaited economic data later in the week that could offer insights on when the Federal Reserve could start cutting interest rates. Read the full article here>

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