US markets were up overnight, with the S&P futures touching 1940. Local markets are ever so slightly higher this morning with the JSE Top 40 currently up 0.1%. The Rand is currently trading at R10.653 to the $. Merafe Resources (MRF) released reviewed 6m interim statements till end June 2014 and showed a 134% increase in HEPS to 8.9 cents. Distell Group (DST) said in a trading statement that they expect their HEPS to be 33-38% higher than the last period – their results for the year ending June 2014 is expected around the 25th August.
The German ZEW index missed estimates, came in at 8.6 vs an estimate of 17. It is a survey of about 275 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany. The Euro falls to session lows on the disappointment.