The rand strengthened back under R13/$ in the early hours of Thursday morning, trading at R12.90/$, R14.70/€ and R16.71/£ at 7am. The JSE’s all share index, which advanced 0.32% on Wednesday and 0.28% on Tuesday, may be set for its third day of gains judging by markets trading ahead of its opening. Sydney’s S&P/ASX 200 was more than 1% higher, helped by BHP rising 2.53% to A$23.46. BHP closed 2% higher at R197.65 on the JSE on Wednesday. Hong Kong’s Hang Seng index gained 0.88% and Tokyo’s Nikkei 225 index 0.43%, taking their cue from the US where the Nasdaq index closed 1.43% higher and the S&P 500 index 0.88% higher on Wednesday. Statistics SA is scheduled to release May’s producer price index (PPI) dada at 11:30am. Investec Bank economist Kamilla Kaplan said in her weekly note e-mailed on Friday that annual producer inflation could show a slight lift to 4.7% in May from 4.6% in April since petrol prices rose 47c/l and diesel prices 30c/l. "The recovery in international oil prices...
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