Money SA economy
The JSE was firm in midday trade on Monday in line with global markets amid higher investor confidence after the announcement of a rescue package for Greece last week.
At 12pm the JSE all share index had added 0.24%, led by gold miners 1.18% firmer, platinum miners were up 1.51% and resources gained 1.14%. Banks gave up 0.51%, financials dropped 0.15% and industrials were also down 0.50%.
Gold was quoted at $1,110.53 a troy ounce from $1,092.41/oz at the JSE's last close. Platinum was at $1,607/oz from $1,594/oz at the JSE's last close.
"We had a bit of a slow start this morning and volumes have been quite light, but there is a firm undertone to the market. Resources are leading the upside, but banks and financials and retail stocks remain quite firm after the interest rate cut last week," a local equities trader said.
Dow Jones Newswires reports that European stocks nudged a little higher.
US stocks are called to open higher, in line with US futures, says David Morrison at GFT. He calls the DJIA up 65 points at 10,915 and the S&P 500 up 8.5 at 1175. "Traders are reacting to a quiet Asian Pacific session and strength in banking stocks and miners this morning in Europe," he says. On the economic front, investors will turn to personal income and spending and the core PCE price index at 12:30 GMT.
On the JSE, Anglo American was R4.65 or 1.5% better off at R314.55 and BHP Billiton garnered R2.30 to R251.70. Sasol picked up 216 cents to R296.05.
