World markets perk up

06 September 2016 - 10:06 By Reuters

World shares saw their biggest jump in over a month yesterday and the dollar slipped after weaker-than-expected US jobs figures gave investors another excuse to push back Federal Reserve interest rate rise expectations.European shares touched a four-month high, led by mining and oil firms as crude prices jumped more than 3% for the second straight session in the commodity markets.Benchmark bonds were also back in favour amid the waning Fed bets, while emerging market stocks were headed for their best day since early July as the Fed and hot oil combination saw them soar 1.3%."We don't expect the Fed to do anything until next year, so that lays the ground for further advances," said TD Securities strategist Paul Fage.Though the Fed reaction and oil price surge were the markets' main drivers, they were not the only factors in play.The yen added to the dollar's pressures as the head of the Bank of Japan disappointed investors who had expected clearer signals that monetary policy would be eased further this month.The dollar dropped 0.7% to ¥103,27 having gained more than 4% against the Japanese currency in the last six days. The euro nudged up 0.2%.Brent crude futures for November delivery were last up $1.93 per barrel at $48.75 a barrel yesterday and US crude for October delivery was up $1.60 a barrel at a session high of $46 a barrel.  ..

There’s never been a more important time to support independent media.

From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.

For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.

Already subscribed? Sign in below.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.