The rand reversed some of its previous session losses in early trade this morning. By 10 am the local unit had firmed 0.04% against the Dollar and 0.09% against the Euro and 0.15% against the British pound, trading at:
R13.38 against the US Dollar
R15.17 against the Euro
R17.25 against the British pound
The local bourse inched higher in early trade with the all share index and the top 40 index both up o.4% in early trade. Gold Mining stocks were down 0.8% while financials were up 0.9%. Some of the big movers saw Tawana share price gain 14.6% in early trade, while Ellies stock had tanked by 11.7% in early trade.
European markets: The FTSE was little changed in early trade up just 0.03%
US markets: Major U.S. benchmarks saw mixed results overnight. The NASDAQ was up 0.6% as technology stocks rose 1%, while the Dow Jones was down 0.01%, dragged down by low crude oil prices
Asian stocks were trading weaker in early trade as tensions around North Korea weighed down Asian markets.
The Nikkei was down 0.4%
Hang Seng was down 0.2%
Market factors to watch out for today:
Sacci expected to release its Business Confidence Index
BUSINESS REPORT ONLINE