Dear Friends Herewith the latest market information: Prime : 8.50% Gold (US$ per ounce) : 1 286.00 (-8.50) Brent Crude (US$ per barrel) : 99.90 (-0.96) Dow Jones : 14 659.00 (-0.94%) JSE Alsi : 38 075.00 (-2.41%) ZAR/US$ : 10.09 (+0.10) ZAR / Euro : 13.22 (+0.17) ZAR / GBP : 15 .55 (+0.14) Market moving events: Our market hit 2 month lows yesterday. Global shares and commodities extended last weeks losses after continued worries about fiscal policies in the US and China. Many traders feel that this “pull back” was needed and it certainly opens up a buying opportunity. Construction shares had a good day after regulators imposed lower-than-expected fines with regard to a price-fixing investigation. Impala Platinum was down by 5.5% and Harmony Gold fell by 8.31%. Construction firms WBHO and Aveng were up by 1.94% and 5.12% respectively. The US market retreated yesterday on speculation the US Federal Reserve would curb its stimulus measures. Domestic economic data continues to improve however the broader macro policies are overshadowing this for now. Positive Pointer: The sardines have finally been sighted off Port St Johns and we just need the water temperature to drop by a further 2 degrees to lure them in shore. A good sardine run translates into a good tourist season for the lower and mid-south coast of KZN. Enjoy Tuesday. Warm Regards Ant
Posted on: Tue, 25 Jun 2013 07:55:28 +0000
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