A good day…
Stefan van Rooyen at the Efficient Group says that Aspen Pharmacare (+4.47%), South Africa’s largest pharmaceutical manufacturer, and construction group Murray and Roberts (+5.09%) were adored by investors.
The rand gained between 6 cents and 10 cents against the dollar and euro respectively for the week.
A gold industry group reported that a new wave of investment in gold (-0.96%) is expected which will drive the gold price above its high of $454 per ounce in 2004.
OPEC president, Sheikh Ahmad al-Fahd al-Sabah mentioned that instability in the Middle East, the threat of international terrorism, and fears about future supply was the main factors impacting on the oil price (-1.31%).
US employment figures indicated that employers added 274k workers in April, equity markets closed mixed on Friday. The CAC 40 (+1.14%) was leading the surge in European share prices on Friday; it finished above the key 4000 level.
Although the anti-Japan protests ended, the Asian equity markets are in the red. The rate of reserve accumulation by the SARB will be released early this morning and may support the domestic equity market. The Barclays/AAbsa deal will also be a driver of trading today.
