Out of here…

After a very important announcement yesterday in parliament, the JSE Securities Exchange (+0.01) closed at almost the same level as where it started.

The key movers on the bourse were the world’s largest steel company Mittal Steel (+2.51%), and on the financial front Remgro (-2.14%) tugged the market flat.

The dollar and pound tormented the rand on the currency market – it lost 5 cents and 4 cents respectively. The gold price (+-0.37%) has moved past the $425 per ounce level in recent times, and seems to be targeting the $430 level soon.

The oil price (-0.83%) has been floating around the $54 per barrel level during the last 7 days. In the US, the Dow Jones (+0.24%) rushed ahead even after retail sales for May recorded the biggest decline in almost a year.

In Europe, bank shares helped steady the FTSE 100 (-0.07%) after it had a weak start yesterday morning. The Nikkei is currently continuing with its good run as it hit a two–month high yesterday.

Not much action is expected on the bourse today as we expect investors to look forward to a long weekend.

(source: the Efficient Group)