Morning report - 02.03.04

Local equities had a very good day yesterday, closing more than 1-percent higher, reports Nico Kelder, economist at the Efficient Group.

The rand closed flat against the majors. Commodities closed higher yesterday but gold remained below the $400/oz level, while platinum closed at $900/oz.

European and US markets traded almost 1-percent higher yesterday. Markets in the Far East are trading mixed this morning. We expect that equities should continue to trade higher today depending on the movement of the currency.