Still strong
11 July 2004 | Investments | General | Angelo Coppola
The Alsi 40 closed 1.2% stronger on Friday probably caused by an approximate 0.7% softening in the ZAR.
Nico Kelder, economist at the Efficient Group reports that the rand lost around 1% ground against the major currencies.
Local bond yields remained stable but commodities strengthened - gold traded up by 0.11%, platinum by 0.31%, and oil dropped 3.02%!
European markets traded mixed Friday, while US markets gained 0.41%. The Far East is in positive territory with the Hang Seng gaining 1.39% so far this morning.
We expect that the currency will continue to dominate the trading locally.
