JSE holds on to gains

The JSE mostly held on to its early gains in midday trade on Tuesday having tracked Asian markets at the start of play.

Local shares were boosted by recent local economic data including GDP growth and a PMI reading which revealed a three-year high in February, jumping to 60.4 index points from 53.6 in January.

At 12.01pm the JSE all share index was up 0.36%, the gold mining index gained 1.08%, and resources were 0.27% better, but platinum miners lost 1.01%.

Banks collected 0.37%, financials added 0.30% and industrials advanced 0.52%.

Gold was quoted at $1,117.08 a troy ounce from $1,115.97/oz at the JSE's last close. Platinum was at $1,550/oz from $1,549/oz at the JSE's last close.

A local trader said the JSE had tracked Asian shares, which ended mostly higher, with that momentum kept by local stocks "possibly reacting to recent positive local data including PMI. Mr Price and Massmart are performing well today," he said.

Dow Jones Newswires reports US stocks are called to open slightly lower Tuesday, said David Morrison at GFT.

With nothing of note on the economic agenda, the markets may struggle for direction he said. Also, traders are keeping a close eye on the Greek debt situation and are awaiting updates. Morrison calls the DJIA down 20 points at 10,384 and the S&P 500 down one at 1114.

On the JSE, Anglo American added R1.51 to R280.66 and BHP Billiton firmed R1.19 to R233.69. Sasol shed R1.49 to R284.51.