Money SA economy
South African stocks ended Wednesday higher after tracking international markets into positive territory.
At 5pm, the JSE all share index was 1.93% firmer, with resources 3.21% higher. Gold miners added 2.32% and platinum miners gained 3.41%. Industrials edged 0.87% up while banks gained 1.38% and financials added 1.33%.
Gold was quoted at $1 156.49/oz from $1 151.56/oz at the JSE's last close. Platinum was at $1 728/oz from $1 713/oz at the JSE's last close.
A local trader said the South African market was stronger for most of the day after ending Tuesday in the red. She said the local market was being led by overseas markets, particularly the US which has now got into reporting season.
"South African retail figures, which came out worse than expected, caused a bit of a blip but it was not enough to change the markets positive mood," she said.
Dow Jones Newswires reported that US stocks climbed on Wednesday, pushing the Standard & Poor's 500 above the key 1 200 level for the first time in nearly 19 months, as a strong round of earnings boosted expectations for the rest of the reporting season.
