Money SA economy
The JSE opened firmer on Monday morning following the positive start to the week on global markets.
By 9.10am the JSE all share index had added 0.44%, with gold miners 1.23% firmer, platinum miners were up 0.71% and resources were also 0.71% up. Banks were 0.52% firmer, financials were 0.41% better off and industrials edged up 0.15%.
Gold was quoted at $1,110.57 a troy ounce from $1,092.41/oz at the JSE's last close. Platinum was at $1,606.50/oz from $1,110.12/oz at the JSE's last close.
"The market is slightly firmer this morning and with the UK opening an hour earlier, due to the change in daylight saving, we may see some early volume coming through," a local trader said.
"We expect the rest of the day's trade to continue with this firm undertone," the trader said.
Dow Jones Newswires reported that European stocks were expected to open higher Monday, following the rebound on Wall Street on Friday. Renewed confidence in Asia, particularly in the Chinese banks, should also help sentiment.
However, despite the call to open higher, a shorter trading week due to the Easter holiday could result in low volumes, and Greece's debt problems look far from being resolved, said Ben Potter, research analyst at IG Markets.
