The rand has extended its gains as a return of risk appetite saw the US dollar fall against major currencies.  

Bonds ended sharply firmer yesterday with the yield of the R157 government bond at 8.08%.

US and European markets

US stocks fell overnight, led by financials in a late-stage sell-off, after the Federal Reserve gave a more pessimistic view on the economy, tempering hopes for a quick recovery. The Dow Jones lost 53 points to 8 422. The Nasdaq Composite dropped 7 points to 1 728. The S & P 500 dipped by 5 points to 903.

European shares ended higher in a choppy session, extending a winning streak to five days, with commodity stocks the major gainers as the price of crude oil and metals rose. However, London's FTSE 100 was 14 points weaker at 4 468. In Paris the CAC 40 was up 28 points to 3 303. Frankfurt's DAX gained 79 points to 5 039.

Asian markets

Markets in the Asia-Pacific region are in the red this morning. In Tokyo the Nikkei is 123 points lower at 9 221. Hong Kong's Hang Seng index is down 250 points to 17 226. Sydney's ASX has lost 24 points to 3 800. 

Platinum is trading at $1 155.50 /oz and the spot price of Brent crude oil is $58.79 cents a barrel.