Up slightly

Nico Kelder, economist at the Efficient Group, reports that Local equity markets closed higher yesterday, gaining 0.43%, despite the currency strength - around 1 percent against al the majors.

Yields on the capital market fell very sharply (30 points) after much better than expected PPI numbers were released. Commodities where mixed – platinum marginally lower by 0.23% and gold flat and oil lower by 0.81%.

European markets closed in the black with the CAC, FTSE and DAX gaining on average 1%. US markets closed in tandem with the both the Dow Jones and the Nasdaq shedding only 8 points.

US Jobless claims were the main contributor to the negative markets. The Far East is higher by 0.59% (Japan) and 0.42% (Hong Kong) so far this morning. We expect to have a quiet to positive day locally, after this week’s great inflation figures.