All down…

Not even the brilliant performance of the Durban based Combined Motor Holdings (+5.12%) could motivate an upsurge on the bourse (-1.18%) yesterday.

According to Stefan van Rooyen at The Efficient Group, the on the JSE Securities Exchange 211 companies recorded a decline in stock prises.

Sasol (-3.27%) was thumped as the spot price of oil (-2.21%) fell below the $50.00 per barrel level.

Traders expect the rand to start moving when the MPC announces its rate decision this afternoon. On the currency market it became 2 cents cheaper to buy any of the major currencies in exchange for rand. The gold (+0.21%) price inched higher.

The weak March retail sales data released in the US yesterday resulted in the equity markets closing 1.24% in the red as investors grew anxious about consumer spending. In Europe the DAX (+0.76%) was the only advancer as the FTSE 100 (-0.55%) was ignored by investors.

The Asian markets are currently posting big losses, the Nikkei 225 (-0.88%) continuing its trend by losing almost two percent this week. Observers will be watching Mr Mboweni this afternoon to give them direction regarding interest rates.