Morning report - 25.3
24 March 2004 | Investments | General | Angelo Coppola
Local equities were hammered again yesterday, the second day in a row, says Nico Kelder, economist at the Efficient group.
The currency lost ground to the dollar but gained against the euro and pound, a result of the stronger dollar. Bonds weakened as an interest rate hike becomes increasingly likely after the release of February’s CPI data yesterday.
Commodities closed mixed with gold and oil prices falling, but the platinum price was up again. European and US markets were again flat yesterday. Markets in the Far East are mixed with the Nikkei gaining 1-percent while the Hang Seng is down 1-percent so far this morning.
We expect continued weakness on the local equity market. February’s PPI data is expected at 10:00 this morning.
