South African futures were higher on Thursday in a day of mixed trading as UK bond yields climbed on the European Central Bank’s (ECB) mildly dovish message but US yields fell. The Dow was 0.14% lower at the JSE’s close with European markets mixed. The FTSE 100 had risen 0.65%, while The CAC 40 had fallen 0.48%, and the DAX 0.18%. ECB president Mario Draghi gave little indication on when the tapering of its accommodative policies would commence, but the market took the view it was a given, later in the year, with the euro gaining more than 1% on the dollar. The dollar has been losing out against the euro after US Federal Reserve chairperson Janet Yellen indicated that US rates would not rise much further from present levels. In early evening trade, the euro was at $1.1642 from $1.1515. The rand was at R13.0047 to the dollar from R12.9174. The R186 was bid at 8.54% from 8.645%. Local equities were in positive territory following the Reserve Bank’s surprise decision to cut the repo ra...
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