Money SA economy
The JSE was firmer in noon trade on Monday, taking its cue from firmer Asian markets and a firmer close on Wall Street on Friday.
However, the market was off its earlier highs as European markets traded lower and commodity prices lost a bit of their sheen.
At noon, the JSE all share index was 0.97% firmer, with resources up 1.29%, gold mining shares gaining 0.68% and platinum miners picked up 0.70%. Banks and financials added 0.33% and 0.72% respectively, while industrials found 0.78%.
Gold was quoted at $1,121.44/oz from $1,113.99/oz at the JSE's last close, and platinum was at $1,538.50/oz, from $1,513.50/oz at the bourse's previous close.
"The JSE is trading higher which is basically a follow-through from the firmer Asian markets this morning and the firmer close on Wall Street on Friday. But the market is off its highs as European stocks have come off a bit," a local equities trader said.
Dow Jones Newswires reports that European stocks were a little lower Monday, as worries over the European debt crisis continued to weigh on sentiment.
Meanwhile, Asian shares ended on a strong note Monday as investors snapped up resource shares and exporters, encouraged by a positive finish on Wall Street and eased worries about Greece's sovereign debt.
Dow Jones Industrial Average futures were 35 points higher in screen trade.
On the JSE, Anglo American added R3.80, or 1.31%, to R292.80 and BHP Billiton gained R3.53, or 1.48%, to R241.58. Sasol pocketed R4.85, or 1.72%, to R287.60.
