Money SA economy
The JSE opened a tad higher on Thursday, sensing hesitancy in the global markets.
By 9.17am the JSE all share index was up 0.10%, with resources 0.15% higher, gold miners dipped by 0.27% and platinum miners edged up just 0.01%. Banks added 0.12%, financials were up 0.03%, while the industrial index moved up 0.07%.
Gold was quoted at $1 147.43 a troy ounce from US$1,145.90/oz at the JSE's last close. Platinum was at $1 748.50/oz from $1,725/oz at the JSE's last close.
A local trader said there were several factors looming over the markets, among them a selloff in Asia on Thursday morning, "the unresolved Greek issue" and concerns over China's economic growth, which knocked commodity stocks.
The markets are also waiting for numbers coming out of the EU and US later today and more earnings results in the US before deciding their course.
On the local bourse, he said the numbers coming from South African companies on Thursday morning, were "still being digested".
Anglo American and its subsidiaries, Anglo Platinum and Kumba Iron Ore reported solid first quarter production figures. Kumba Iron Ore, which is 64% owned by Anglo American, reported a 23% increase in total production year-on-year to 11.5 million metric tons with export volumes increasing by 21% to 9.3 million tons while domestic sales were up 7% to 1.6 million tons.
Anglo Platinum reported that equivalent ounces from mining and the purchase of concentrate was 594 700 ounces in the first quarter, a fall of 3% on a year earlier and 1.5% below the prior quarter.
On the JSE, Anglo American was R1.43 firmer at R325.50, Anglo Platinum was R2 higher at R820 and Kumba was 42c up at R363.92 while Clicks added 40c or 1.27% to R32.
Asian stock markets are lower Thursday with profit-taking hitting Japanese and Korean shares as investors worried about earnings. In Japan the Nikkei 225 ended 1.27% lower, while the Hang Seng was down 197.11 points.
