Money SA economy
South African stocks ended in the black on Friday tracking US markets, which were boosted by better than expected non-farm payrolls data.
By 5pm the JSE all share index had gained 0.47%, with resources 0.9% firmer, platinum miners added 0.26%, and Gold stocks climbed 0.28% higher. Banks and financials picked up 1.01% and 0.25% respectively, with industrials 0.14% better.
Gold was quoted at $1 135.50/oz from $1 134.18/oz at the JSE's last close. Platinum was at $1 581/oz from $1 573.50/oz at the JSE's last close.
A local equities dealer said: "Jobless data in the US came out better than expected. To be honest, markets have looked for any excuse."
He noted that a stronger rand also lifted local stocks.
Dow Jones Newswires reported that US stocks opened higher Friday as the government's report of fewer job losses in February than expected boosted sentiment.
The Dow Jones Industrial Average was up 52 points, or 0.5%, to 10496, in early trading.
The action came after the Labour Department said non-farm payrolls fell by 36 000 in February compared with a revised 26 000 drop in January.
The unemployment rate remained at 9.7% last month. Economists had forecast the jobless rate would edge higher to 9.8%. The better-than-expected jobs data came despite stormy weather on the East Coast last month which the government said may have temporarily hit payrolls and work hours.
On the JSE, Anglo American was up 340c, or 1.15%, to R299.40 and BHP Billiton added R3.44, or 1.43%, to R244.45. Sasol wavered 55c, to R284.
