South Africa’s rand saw selling pressure in early trade on Monday as weaker global commodity prices and the recently gazetted mining charter sent jitters throughout the markets, while stocks opened higher on the local bourse.


At 10 am the local unit was trading at R12.83 against the dollar and at R14.45 against the euro while it was trading at R16.37 against the British pound.

Markets and big movers:


The JSE all share index was up 0.61 percent, while the top 40 index was 0.81 percent higher. However gold mining stocks were down 4.9 percent in early trading.  Some of the big movement saw Sibanye Gold shedding 6 percent of its share price in early trade and Harmony slid by 5.8 percent in the early session.


Offshore market movements: 

The FTSE was up 0.70 percent while the Nasdaq was down 0.70 percent. The SP 500 was up 0.03 percent.


Market Factors to watch put for today:


- No major company results and economic data is expected today.However, we expect a busy week ahead when it comes to economic data with both the current account and inflation data expected to be released this week.