Global economic relief buoys the Rand and SA stocks

THE Rand rallied to a two-and- a-half-year peak and local shares rose as news of strong Chinese factory output and relief over new banking capital rules fanned global risk appetite.

World stocks as measured by the MSCI rose more than 1,3% to their highest in more than a month. Emerging markets outperformed, rising nearly 2% to a four- and-a-half- month peak.

Adding to the optimism, the European Commission almost doubled its economic growth forecasts for the euro zone this year, saying the region’s economy will expand 1,7%, up from a May estimate of 0,9%.

http://www.businessday.co.za/articles/Content.aspx?id=120866

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