Morning report (20.2)
19 February 2004 | Investments | General | Angelo Coppola
Despite little change to the rand's exchange rate yesterday, local equities gained ground as the budget information was digested, reports Nico Kelder, economist at The Efficient Group.
The bond market traded weaker, probably reacting to higher deficit funding estimates. Commodities were mixed yesterday; there was no major news to give direction.
European markets gained more than a percent while the US market traded slightly lower.
This sentiment was carried forward, and markets in the Far East are trading lower this morning. We expect that local equities should trade sideways today, as the market will wait for the deluge of news next week.
