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A rally

23 August 2004 Angelo Coppola

(24.8.04) The All Share gained more than 2% and closed at a new 4 month high of 11166. The currency traded mixed, weaker against the dollar and sterling but stronger against the euro.

South African bond yields closed higher and are currently close to the levels before the rate cut.

Commodities traded lower with oil shedding 1.17%, gold falling 1.01% and platinum lower, trading at $838.00. European markets closed in the black with the FTSE gaining 0.83%, DAX higher 1.60% and CAC closing 1.46% higher.

US markets closed in the red yesterday; Wal-Mart’s announcement of disappointing sales forecast was one of the reasons. The Hang Seng and the Nikkei are currently trading flat.

We expect local and world markets to continue to trade higher today, local bonds should have a quiet day ahead of the inflation data scheduled for tomorrow.

Quick Polls

QUESTION

Healthcare brokers have long complained about inflation-plus medical scheme contribution increases; but pandemic may have changed things. What will pandemic-induced changes in hospital utilisation do to medical scheme contribution increase patterns?

ANSWER

Below inflation increase for 2022, then back to inflation-plus
Long-term trend of below inflation increases
Inflation-linked hikes for 2022, then back to inflation-plus
This is a 2-year hiccup, inflation-plus increase trend remains in place
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