Money SA economy
The JSE followed Asian markets firmer on Friday, egged on by a recovery in commodity prices and the rand as there was some respite for the euro overnight.
At 9.13am the JSE all share index was up 0.70%, with resources 1.20% better, the gold mining index up 1.69% and platinum miners 1.43% higher.
Banks collected 0.43%, financials added 0.36% and industrials advanced 0.31%.
Gold was quoted at $1,109.49/oz from $1,095.79/oz at the JSE's last close, and platinum was at $1,532/oz, from $1,523/oz at the bourse's previous close.
A local trader said the market was taking heart from the recovery in commodity prices and the fact that the rand came back from R7.90/$ overnight as the euro recovered from its recent lows. He said, however, that whether the gains are sustainable remains to be seen as the market is very erratic, with no real direction.
"Until we have clear direction on the global economy, we can expect the uncertainty to continue. It's not an easy market to trade in," he said.
Dow Jones Newswires reports investors in Europe are poised to jump on the recovery bandwagon, lifting markets at the start, yet sentiment remains wobbly and fickle with the ebb and flow of economic data.
Japan's Nikkei 225 gained 0.24% and Hong Kong's Hang Seng Index was 1% higher.
On the JSE, Anglo American added R3.50, or 1.27%, to R279.60 and BHP Billiton firmed R2.55, or 1.09%, to R237.55. Sasol jumped R2.09 to R279.19.
