Money SA economy
The JSE ended firmly in the black on Wednesday amid positive sentiment on global markets in reaction to news of some economic growth in the eurozone.
At its close, the JSE all share index was 2.41% firmer, with resources 1.86% higher, and platinum miners 6.39% stronger. Gold miners added 1.82%. Banks were 3.34% to the good, financials gained 3.11% and industrials were 2.62% richer.
Gold was quoted at $1 237.31/oz from $1 219.67/oz at the JSE's last close. Platinum was at $1 732/oz from $1 691/oz at the JSE's last close.
The yellow metal reached a record of $1 245.03 earlier in the day.
A local equities trader said: "The JSE gained some traction on commodity prices, led by gold. Spain's comments that it would make an effort to fulfil its European commitments and tackle its debt issues, along with better than expected GDP figures in Italy improved global sentiment. The US also traded higher.
"Locally, rumours that Standard Chartered could purchase Nedbank lifted stocks in the financial sector," he said.
Dow Jones Newswires reported that US stocks climbed on Wednesday as investors were relieved by better-than-expected economic growth in the euro zone.
