On hold

Local markets closed marginally higher yesterday with Anglo American in the lead.

Nico Kelder, economist at the Efficient Group reports that banks, however, had a less pleasant day after governor Mboweni said that government preferred to keep the country's four biggest banks under local ownership.

The currency traded flat against the dollar but weakened against euro and sterling.

South African bond yields closed slightly weaker.

Commodities traded mixed with gold higher, 0.35%, oil and platinum lower by 1.4%.

European markets closed in the black to a two-month high yesterday. US markets are awaiting Alan Greenspan’s speech to congress tomorrow.

The Hang Seng and the Nikkei are currently trading up by 0.32% and 0.01% respectively.

Local markets should be marginally under pressure today.