On January 2, 2025, European stocks experienced a modest increase as investors anticipated upcoming euro zone business activity data. The Stoxx Europe 600 Index rose by 0.3% in early trading, with the energy and basic resources sectors leading gains. Notably, Vestas Wind Systems A/S saw a significant rise of 6%, attributed to positive order reports from the United States and several European countries.
In South Africa, the rand opened the new year positively, trading at 18.7625 against the US dollar, representing a 0.6% increase from the previous close. This follows a turbulent trading period for the currency during late 2024, influenced by political and economic uncertainties following the U.S. presidential election. The South African stock market also saw gains, with the Top-40 index rising approximately 1%. Meanwhile, the yield on South Africa's benchmark 2030 government bond decreased slightly to 9.04%.