Oil gushing?
30 August 2005 | Investments | General | angelo coppola
The strengthening ZAR was not a great help. Commodities closed mixed, both gold and platinum closed marginally lower while oil surged higher (2.99%) on fears that Hurricane Katrina would threaten production further.
The Efficient Group reports that European shares closed higher for the first time in six sessions after oil fell from its midday highs.
In the US stocks rallied on the back of easing concerns about refinery outages along the Gulf of Mexico. The Nikkei and the Hang Seng is trading higher this morning with 1% and 0.19% respectively.
Locally the JSE is expected to have a better day than the previous few, fuelled by yesterday’s positive world markets.
