SHOOT: As I've said before, the market is schizophrenic, and suffers from ADD (much like the mainstream media). I see SASOL shares are up to R307 today, after being in the R280 range for most of May. Crude prices have inched up to $67.
“The recent rebound in stocks and commodities has very little to do with any sustainable improvement in the overall economy. Whether you like it or not, the global economy is still very weak and the recession is likely to last for at least another six months,” he added. U.S. crude oil futures for July delivery rose $1.26 to $67.57 a barrel. Comex gold rose $4.60 to $983.40 an ounce. Bond prices fell, with the yield on the benchmark U.S. 10-year Treasury note climbing seven-hundreths of a point to 3.53 percent. Global stocks started June with a strong bounce, with markets rising across Asia and Europe even as the world waited for the historic bankruptcy of General Motors later Monday. |
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