Morning report - 26.1
25 January 2004 | Investments | General | Angelo Coppola
A weaker currency supported local equities on Friday with the All Share index closing more than half a percent up, says Nico Kelder, economist at the Efficient group.
Yields on the bond market traded higher, most likely as the weaker rand suggests higher future inflation.
The dollar strengthened against the euro pushing gold and oil prices lower; but platinum rose. European markets remained directionless on Friday while only the Dow Jones showed any significant movement, and this was down.
In the Far East this morning the Nikkei has lost almost 1,5-percent while the Hang Seng is flat. Local equities will once again have to make up their own mind, while they keep an eye on the currency movements.
