Up and down…

The Efficient Group reports that investors started to appreciate the better results released on Wednesday by Edcon (+2.86%) after its price initially dropped in the middle of the week.

Entertainment and media group, Johnnic Communications (+5.71%) surged as investors were buzzing over a report that a BEE company was interested in a 35% share.

The rand traded range bound; it gained between 1 cent and 4 cents against the major currencies. The gold price (-0.32%) has been hovering around the $420 per ounce level this week, while the oil price (-0.31%) brought relief to consumers by dropping 3.21% this week.

The US equity markets closed firmly in the black awaiting the Q1 preliminary GDP and personal consumption expenditure data due next week. In Europe the CAC 40 (+1.16%) closed the strongest with the DAX (+0.83%) close on its heels.

Currently in Asia the Nikkei 225 (+0.46%) is stomping ahead as motor manufacturers’ issues are favoured. We expect investors to be bullish, just because.