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Recovering…

16 August 2004 Angelo Coppola

(17.8.04) Resources and gold shares were the main drivers gaining 4.15% and 4.63% respectively.

Nico Kelder, economist at the Efficient Group says the currency weakened against all the majors shedding 1.7%. Since the cut in interest rates the currency weakened 5.6%, perhaps the miners and exporters are content with this.

Yields on the capital market closed weaker while commodities where mixed – platinum up 2.67% and gold gaining 1.14% and oil closed lower by 0.51%. European markets closed in the black yesterday after some relief in world oil prices.

US markets surged higher by 1.3% as bargain-hunters emerged after months of weakness in some sectors. The Far East is higher by 0.31% (Japan) and 0.51% (Hong Kong) this morning.

After a healthy local rally the past weak, profit taking may limit upside today depending on the currency movements.

Quick Polls

QUESTION

Healthcare brokers have long complained about inflation-plus medical scheme contribution increases; but pandemic may have changed things. What will pandemic-induced changes in hospital utilisation do to medical scheme contribution increase patterns?

ANSWER

Below inflation increase for 2022, then back to inflation-plus
Long-term trend of below inflation increases
Inflation-linked hikes for 2022, then back to inflation-plus
This is a 2-year hiccup, inflation-plus increase trend remains in place
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