The rand reversed some of its previous session losses in early trade this morning as emerging market rallied in early trade. By 10 am the local unit had firmed 0.67% against the Dollar and 0.94% against the Euro and 1.3% against the British pound, trading at:

 

R13.33 against the US Dollar

R15.21 against the Euro

R17.16 against the British pound

 

JSE:

 

 The local bourse inched lower in early trade with the all share index and the top 40 index both up 0.1% in early trade. Some of the big movers saw Ellies share price gain 13% in early trade, while Advanced Health stock had tanked by 10% in early trade.

 

International Markets:

 

 European markets:  The FTSE was stronger in early trade up 0.3% buoyed by an improved demand in UK financials and firmer energy prices.

 

US markets: Major U.S. benchmarks were stronger overnight. The NASDAQ was up 1% while the Dow Jones was down 0.4%,

 

Asian Markets: 

Asian stocks were trading stronger in early trade as China Inflation data met market expectations.

 

The Nikkei was up 0.7% 

Hang Seng was down 0.6%

 

Market factors to watch out for today:

 

No major economic data is expected today. However, we expect a bumper week with regards to data this week with the manufacturing production, mining production and inflation figures all expected this week.


BUSINESS REPORT ONLINE