Money SA economy
The JSE was sharply higher by midday on Monday, tracking the turnaround in global markets on news that the European Union (EU) had moved to stabilise the euro and prevent the Greek debt crisis from affecting other member countries.
By 12pm the JSE all share index had improved 4.02%, with resources 4.58% firmer, and platinum miners 5.13% stronger. Gold miners, however, were 1.89% lower. Banks were off 5.09% higher, financials added 4.13% and industrials were up 3.42%.
Gold was quoted at $1 189.93/oz from $1 200.06/oz at the JSE's last close. Platinum was at $1 694.50/oz from $1 661/oz at the JSE's last close.
"The local bourse is tracking the global markets higher," said a local trader, pointing out that the Asian markets had closed firmer and the European stock markets were "rocketing". There are also indications that the US market could open 3% to 4% stronger, the trader said.
On the JSE, Anglo gathered R19.92 or 7.02% to R303.70 while BHP Billiton added R12.01 or 5.71% to R222.50. Sasol garnered R10.39 or 3.74% to R288.49.
