Global markets are generally weaker, following U.S. markets after company earnings missed guidance, providing excuse for equity markets to take profit from the current elevated levels.
The Industrial and Financial indices are 0.5% and 0.31% lower respectively while the resource index outperforms in morning trade having added 1.17%.
In Company News Evraz Highveld Steel and Vanadium Limited has guided the suspension of its listing and a cautionary announcement.
The company has guided that it does not have adequate funding to meet its short term obligations. The Board has accordingly resolved that it will be in the best interest of Highveld and its stakeholders to commence with voluntary business rescue proceedings in terms of section 129 of the Companies Act, 2008.
On the commodities front Gold is trading at $1190/oz, Platinum at $1150/oz and Brent Crude trading at $58 per barrel.
In currencies the Rand is Trading at R12.13 to the Dollar, R17.76 to the British Pound and R12.82 to the Euro.
On the economic front in the U.K. CPI data showed inflation to be flat at 0% y/y. In the U.S. we are expecting m/m Core Retail and Retail sales data as well as PPI data at 2:30pm.