The rand continued to see selling pressure in early trade as the row over the primary mandate of the Reserve Bank continued to weigh down the local unit.   At 10 am the rand was trading at R13.13 against the dollar, while it traded at R14.59 against the euro and R16.48 against the British pound.




Both the all share index and top 40 indexes were trading weaker, down 0.6 percent. However gold mining stocks were up 2 percent as gold mining stocks continued to profit from the weaker rand.


International Markets:

International markers we all down largely dragged down by a drop in oil prices.


European markets:  The FTSE was down 0.2 percent.


US markets: The NASDAQ was down 0.8 percent while the Dow Jones was down 0.2 percent.


Asian Markets: The Nikkei was down 0.4 percent.


Market factors to watch out for today:


1. Consumer Price Index from Stats SA.  The core annual inflation was recorded at 4.8 percent, while month-on-month it was pegged at 0.3 percent for May.