Market Open 13/10/2008 – Bank rescues fuel tentative rally in global markets

9:00, Monday the 13th of October. Investor confidence on the South African markets should remain subdued this week as the deepening credit crisis pushes the global economy into recession. European leaders on Sunday agreed to provide capital or directly buy into new bank debt issues in a move that may inject cash into the region. We are finally seeing coordinated action by governments and central banks in an attempt to solve the financial crisis. This should attract bargain hunters and give stocks some support. We do however believe that this will just be a temporary bounce, with more downside to come.

Market Bid Offer Updated Change Spot Gold 858.25 858.75 09:00 8.55 Spot Silver (5000oz) 1055.25 1060.25 09:00 50.75 Spot FX EUR/USD 13651.5 13653.5 09:00 248.6 Spot FX USD/ZAR 91619.0 91819.0 09:00 -2942.8 Spot FX GBP/ZAR 157286.0 157686.0 09:00 -3911.0 FTSE 100 Cash 4175.3 4177.3 09:00 229.8 Wall Street Cash 8750 8756 09:00 215 Brent Crude 7683 7697 09:00 337 Germany 30 4797.0 4799.0 09:00 343.2 Japan 225 7920 7940 01:00 0 Brent Crude 7859 7872 09:00 352 Platinum 1016.5 1020.0 09:00 16.5

News Headlines

Bank rescues fuel tentative rally in global markets

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