Rand steady in morning trade

The Rand is stronger this morning while the all share index lost 104 points to 31 090.

The rand is stronger this morning. On the capital market, the yield on the R153 government bond ended at 10.26% on Friday.

US markets
US stocks ended little changed overnight. This, after the biggest US take-over deal proposed this year helped offset comments by influential investor Warren Buffett, one of the deal's backers, that the country could face a long and deep recession.

Signs of life stirred in the moribund merger-and-acquisition market when Mars, the maker of M&Ms candy, offered to buy Wm Wrigley Jr, the world's largest chewing-gum maker. Buffett's Berkshire Hathaway will help finance the $23 billion acquisition. The Dow Jones ended 20 points down at 12 872. The Nasdaq Composite gained 1 point to 2 424, while the S & P 500 dipped by 1 point to 1 396.

European markets
European shares rose for a fourth straight session to hit a two-month closing high, propelled by financials on hopes write downs will soon be left behind and miners on the back of higher metal prices. London's FTSE 100 however, dropped 1 point to 6 090. In Paris the Cac 40 rose 35 points to 5 013, while Frankfurt's DAX ended 29 points higher at 6 925.

The JSE ended in the red going into the weekend. The All Share Index lost 104 points to 31 090.

Asian markets
Markets in the Asia-Pacific region are firmer this morning. In Tokyo the Nikkei added 31 points to 13 894. In Hong Kong, the Hang Seng advanced 319 points to 25 986, while Sydney's ASX gained 2 points to 5 605.

Platinum is trading at $1 971/oz and the spot price for Brent crude is $115.45 a barrel.

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