Investors keep eye on firm rand, metal prices

Several factors are set to play a key role on domestic financial markets this week. Starting today, investors will keep an eye on buoyant precious metal prices and the firmer rand.

Economic data due out this week includes April's international reserves and data on the manufacturing and mining sectors which will show how the supply side of the economy is performing. The rand is firmer at this hour after reaching a new four-month high on Friday. On the capital market, the yield on the benchmark R153 government bond ended at 7.95% on Friday.

US markets
US stocks ended higher on Friday, pushing blue chips to their fourth straight record close, helped by talk of potential takeovers and economic data that calmed inflation concerns. Reports that Microsoft may buy Yahoo boosted the Internet media company's shares 10% and propelled tech shares to their fifth straight week of gains, its longest winning streak in nearly 18 months. The Dow Jones added 23 points to 13 265. The Nasdaq Composite edged up seven points to 2 572.

European markets
Mining stocks and a possible takeover of Reuters boosted European market on Friday. In Paris the Caceron jumped 65 points to 6 069 and Frankfurt's DAX climbed 40 points to 7 517.

Asian markets
Markets in the Asia-Pacific region are buoyant this morning. In Tokyo, the Nikkei rose 306 points, or 1.8%, to 17 701 and in Hong Kong, the Hang Seng gained 218 points to 21 055, while Sydney's ASX added nine points to 6 314.

Gold is trading at $688.65 and platinum at $1335.50/oz and the spot price for Brent crude oil is softer at $64.08 a barrel

Source : www.sabcnews.com