Rand tad firmer this morning

The Rand is a tad firmer today

The rand is a tad firmer this morning. Analysts say the recovery in the Euro from 2-month lows and positive close on Wall Street gave the currency a lift.

Issues set to play a key role on local financial markets today, include higher pressure on metal prices, currency movements and soaring oil prices. Investors will also watch the performance of global markets closely.


On the capital market, the yield on the R153 government bond ended yesterday at 10.35%.

US and European markets
US stocks rose yesterday as a surge in global commodity prices propelled mining and energy shares higher, while technology shares gained after a top strategist said they were a good value. Oil prices rose to a third straight closing record high and metal prices advanced as the US dollar fell. The market's advance was limited, though, by financial shares. The Dow Jones added 52 points to 12 867. The Nasdaq Composite climbed 13 points to 2 451, while the S & P 500 edged up five points to 1 398.

Europe's major markets ended mixed yesterday. London's FTSE 100 added 10 points to 6 271. In Paris the CAC 40 dipped 20 points to 5 056, while Frankfurt's DAX slipped four points to 7 072.

Asian markets
Markets in the Asia-Pacific region are mixed this morning. In Tokyo, the Nikkei gave up 128 points to 13 816. In Hong Kong, the Hang Seng added 10 points to 25 460, while Sydney's ASX rose 82 points, or 1.4% to 5 806.

Platinum is trading at $2039 /oz and the spot price for Brent crude has risen to $122.12 a barrel.