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JSE up at midday

The JSE firmed in midday trade on Thursday amid activity related to a futures closeout.

A local trader noted very little international action to drive the local market, which is expected to see some volatility in the afternoon.

By 12.01pm the JSE all share index had gathered 0.71%, with resources 0.75% higher. Gold miners improved 0.38% and platinum miners added 2.76%.

Banks were 0.97% firmer, financials gained 0.81% and industrials were 0.57% stronger.

Gold was quoted at $1,123.14 a troy ounce from $1,122.93/oz at the JSE's last close. Platinum was at $1,631/oz from $1,628/oz at the JSE's last close.

 

A local trader said: "Markets usually climb ahead of a futures closeout and today has been no different. With very little action abroad, activity related to the futures closeout is driving the market.

Dow Jones Newswires reported European stocks posted modest losses Thursday amid wariness ahead of key US data releases and as doubts set in over whether the European Union is willing to support Greece.

On the JSE, Anglo American firmed R3.10 or 1.01% to R308.70, but BHP Billiton declined 75 cents to R248.20. Sasol added R4.78, or 1.68% to R288.78.

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