Pumping…

Global mining and natural resource company, Anglo American (+4.15%) rushed into the lead of the surging mining companies as the fragile rand was battered by the other major currencies.

South African fuel and chemicals maker, Sasol (+4.90%) seems to have dropped its bad reputation after the spate of recent safety issues.

The rand got cornered in an alley; rumours had it that the pound and dollar had a baseball bat and golf club respectively as weapons, with the euro cheering them on. It was horrible, there were cents everywhere.

On the commodity market, analysts are predicting a renewed run-up in the gold price (-0.39%) for the second half of this year. According to Opec sources, the current oil production is roundabout 30 million barrels per day.

The oil price (+0.06%) traded firmly at $50 per barrel. The revised GDP first quarter growth for the US helped their equity markets yesterday. The 3.5% growth, compared to the expected 3.1%, resulted in the markets closing 0.81% up on average.

German stocks advanced yesterday in Europe, the DAX (+1.07%) gaining 47 points. Tech issues are currently driving the Nikkei 225’s (+1.15%) run in Japan. The next big thing traders will watch is next week’s GDP data due on Tuesday.