Morning report (2.7.04)
01 July 2004 | Investments | General | Angelo Coppola
Nico Kelder reports that the currency weakened against the dollar and sterling but strengthened against the euro.
On the capital market yields dropped by 14 points, a result of lower inflation expectations. Commodity prices were mixed, gold gained 0.3% and platinum dropped 1%.
Both were overshadowed by the increase of oil of almost 9% after comments by Saudi Arabia and reserve concerns.
European and US markets closed lower yesterday partially caused by fear of terrorism ahead of the Independence Day holidays this weekend and partially by earnings downgrades.
The Far East, as usual, is following the US lower, and then some. We expect weakness in local equity markets today.
