Morning report (5.4.04)
04 April 2004 | Investments | General | Angelo Coppola
Equities closed the week on a high note gaining more than 1%, being led higher by gold and construction, says Nico Kelder, economist at the Efficient Group.
The rand weakened against the dollar but closed stronger against the euro as the dollar gained more than 2% against same. Bonds continued to trade higher.
The stronger dollar caused a general decline in commodity prices. The oil price declined to just above $30.
European and US markets had a good day with gains around the 1% level. The Nikkei is trading higher this morning while the Hang Seng is closed for a public holiday.
We expect that the market will trade higher today on the back of strong international markets.
