Up marginally

Local markets closed marginally higher. The currency traded weaker against the dollar but flat against the sterling and euro.

South African bond yields closed weaker.

Commodities traded higher with platinum gaining 1.02%, oil higher by 2.41% and gold 0.96% better.

European markets closed in the black with the FTSE marginally 0.3% higher, the CAC gaining 1.30% and the DAX rallying 1.73%. Investors climbed out of defensive sectors into more cyclical shares which should be an encouraging sign. 

In the US markets ended in the black, but US Airways Group tumbled 41% after filing for bankruptcy protection.

The Hang Seng and the Nikkei are currently trading up by 0.63% and 0.04% respectively.

Locally we expect markets to keep a close eye on the currency, as the currency should once again dominate local trading.