Money SA economy
The JSE opened slightly firmer on Wednesday as investors kept their eyes on corporate earnings results out of the US.
By 9.19am the JSE all share index was up 0.21%, with resources 0.21% lower, gold miners dipped by 0.25% and platinum miners 0.48% higher. Banks added 0.68%, financials garnered 0.63%, while the industrial index collected 0.43%. Gold was quoted at $1 144.68/oz from $1 140.18/oz at the JSE's last close. Platinum was at $1 739.50/oz from $1 711/oz at the JSE's last close.
A local trader said the market's attention remained fixed on the US, which is now firmly entrenched in reporting season. "We have seen global markets respond to the results reports - whether positive or negative. Almost any news out of the US is moving the markets," the trader said.
US stocks climbed on Tuesday despite declines in Goldman Sachs and International Business Machines after their earnings reports, as investors were encouraged by the quarterly results from other companies including Snap-On while a rise in oil prices lifted energy giants Exxon Mobil and Chevron.
Dow Jones Newswires reported that European stocks were expected to open higher on Wednesday as positive US earnings statements and economic reports outweigh concerns about Greece, volcanic ash, the probes into Goldman Sachs and proposals for new bank taxes.
Asian stock markets are largely higher on Wednesday with appetite for equities whetted by Wall Street's rise and solid earnings from Apple lifting technology stocks.
