Money SA economy
The JSE was lifted by positive global sentiment this morning as a feeling of stability in the euro zone increased investors' appetite for risk.
By 09:21 the JSE all share index was 0.42% firmer, with resources 0.39% higher. Platinum miners 0.08% softer and Gold miners dropped 1.29%. Banks were flat, down 0.02%, but financials gained 0.25% and industrials were 0.5% richer. Gold was quoted at $1 237.58/oz from $1 237.31/oz at the JSE's last close. Platinum was at $1 735/oz from $1 732/oz at the JSE's last close.
A local trader said: "We are expecting no changes on the repo rate today, however we did say that the last time. A change would possibly move the market, however we expect that to be a non event."
European stock markets opened higher Thursday, lifted by healthy overnight sessions in the US and Asia following announcements from Spain and Portugal on the implementation of austerity measures, which increased investors' appetite for risk.
On Wall Street Wednesday, stocks climbed as a strong earnings forecast from International Business Machines lifted the technology sector, while companies that benefit from global growth were firm following reports of better-than-expected economic growth in the euro zone.
In Asia early Thursday, stock markets were mostly higher as sentiment was buoyed by Wall Street's gains on Wednesday while the Japanese market was lifted by a flurry of solid earnings reports.
