The rand firmed slightly in early trade against the major currencies on the back of a weaker dollar as the greenback weakened on the tensions between the US and North Korea. By 10am the local unit was flat against the US dollar but strengthened 0.07% against the Euro and 0,27% weaker against the British pound, trading at:
By 10 am the local unit was trading at:
R13.22 against the US Dollar
R15.01 against the Euro
R17.03 against the British pound
The local bourse was on the front foot in early trade on Tuesday with the all-share index up 0.3% to 52,220, while the top 40 index was also up 0.3% to 45,273. Some of the big movers saw Wesizwe share price gain 7% in early trade, while Alexander Forbes stock lost 4.7% in early trade.
The international markets were off to a positive start in early trade.
The FTSE was up 0.2%
US markets: There is no overnight/early trade guide from the US as their markets were closed yesterday due to the day of independence public holiday in that country
The Nikkei was up 0.2% as Tokyo stocks rebounded on the back of automakers who extended gains in early trade after encouraging sales data.
The Hang Seng was up 0.3% in early trade.
Market factors to watch out for today:
No major data is expected to be released today.
On the companies, front Finbond has made a 75% acquisition of US-based Blake Enterprises