LOCAL MARKETS
The JSE is trading flat today as there is little in the form of news to add to any kind of direction.
The rand is slightly firmer today, trading at around R7.66/$. Analysts expect the local unit to trade between R7.63-R7.75/$ for the rest of the day. CPI data on Wednesday should provide some direction.
OVERSEAS MARKETS
Wall Street is set to open firmer today after Friday's sell-off. Investors will be on a bargain hunt after stocks fell and oil prices retreated from their record highs.
A flurry of bid talk has boosted European markets which are trading higher. The FTSE is holding onto gains as HSBC reported a rise in interim earnings.
Most Asian markets ended mixed today as renewed credit fears infiltrated the market.
COMPANY NEWS
Eqstra has made its debut on the JSE as a standalone entity with a market capitalisation of R5.2 billion. The company is the integrated leasing and capital equipment business of Imperial Holdings.
The UAE's Emirates Telecommunications Corporation (Etisalat) has joined other potential suitors in looking at MTN as a possible acquistion target as part of their drive to expand in Africa.
Paracon Holdings have reported a 24% increase in headline earnings per share for the six months ending March 2008. Turnover grew by 15% to R438.7 million, while attributable profit rose by 24% to R37.8 million.