Money SA economy
The JSE moved into the black on Wednesday tracking a good showing by the Dow overnight, with general global sentiment showing positive overtones ahead of some key economic data in the US and Europe.
Locally, the increase in South Africa's consumer price index (CPI), which is used by the South African Reserve Bank (SARB) for its inflation target, was in line with market expectation, up 5.7 year-on-year (y/y) in February from 6.2% y/y in January, Statistics South Africa (Stats SA) said on Wednesday.
CPI was at 0.6% month-on-month (m/m) from 0.3% m/m in January.
A local trader noted that the CPI had very little impact on the local bourse having met market expectations.
By 9.18am the JSE all share index had added 0.30%, with resources 0.30% firmer. Gold miners added 0.27%, and platinum miners gained 0.23%. Banks inched 0.16% higher, financials were 0.25% better off, and industrials moved 0.32% higher.
Dow Jones Newswires reports European stocks are called to open moderately higher Wednesday following a strong US session, says Ben Potter at IG Markets.
He calls London's FTSE 100 up 15 points at 5689, Frankfurt's DAX up 18 at 6035, and Paris's CAC-40 up nine at 3962.
In Asia regional markets were mostly higher with tech shares offering support. The Nikkei was 0.4% firmer, and the Hang Seng, was flat, up 0.05%.
On the JSE, Anglo American was R1.35 firmer at R301.25 and BHP Billiton gained 67c to R247.12. Sasol inched 50c higher to R282.50.
