Money SA economy
The JSE was firm at its opening on Tuesday in line with global sentiment and is expected to keep an eye on the US with producer price index and housing starts expected out later.
By 9.25am the JSE all share index was 0.44% firmer, with resources 0.23% better off, and platinum miners 0.66% higher, but Gold miners dropped 1.67%. Banks added 1.23%, financials gained 0.7% and industrials were 0.48% stronger. Gold was quoted at $1,215.63/oz from $1,230.74/oz at the JSE's last close. Platinum was at $1,678/oz from $1,687.50/oz at the JSE's last close.
A local trader said: "We are in line with global markets this morning following a late rally on Wall Street, which filtered into Asia. US futures are firmer and the US producer price index and housing starts are expected out later."
European stocks opened firmer on Tuesday, following the late rally on Wall Street, while the euro and sterling are trading above Monday's lows according to Dow Jones Newswires.
Nonetheless, gains are likely to be tentative, with traders citing ongoing concerns about the implementation of Greece's rescue package and the impact of tighter euro-zone fiscal policy on the region's growth.
In Asia, stock markets were mixed on Tuesday, with memory-chip and LCD panel makers pressured by Samsung Electronics' record capital-expenditure plans.
