Money SA economy
The JSE was firmer in noon trade on Friday in line with its global counterparts amid an improvement in investor risk appetite notwithstanding the ongoing concerns about Greece's debt woes.
On the local front, the World Bank's approval of a $3.75 billion loan to parastatal electricity provider Eskom also helped to reinforce positive sentiment.
By 12.05pm the JSE all share index was up 0.52%, with resources 0.87% firmer and platinum miners gaining 0.69%. Gold miners were flat, up 0.05%. Banks were 0.46% firmer, financials added 0.37% and the industrial index picked up 0.15%.
Gold was quoted at $1,157.47 a troy ounce from $1,150.39/oz at the JSE's last close. Platinum was at $1,719.50/oz from $1,710/oz at the JSE's last close.
"The market is firmer today after yesterday's sell-off. This is all on the back of the big turnaround we saw in US markets overnight which flowed trough to Asian and European markets this morning. The World Bank's approval of the loan to Eskom also contributed strongly to the positive momentum," a local equities trader said.
Dow Jones Newswires reported that European stocks pushed modestly higher Friday, with market participants looking ahead optimistically to the first-quarter earnings season in the U.S., while the latest economic and corporate data continued to support prices despite continuing concerns about Greece.
Hong Kong led Asian markets higher in a generally positive session Friday, with investors weighing a round of upbeat earnings results and what appears to be growing receptiveness in Beijing toward currency reform.
On the JSE, Anglo American was R5.73 or 1.77% to the good at R329.50 and BHP Billiton found R3.50 or 1.40% to R253.82. Sasol dropped 342c or 1.08% to R312.09.
