Money SA economy
The JSE opened firmly in the black on Monday tracking international sentiment, with metal stocks also ticking higher.
A local trader pointed to a bounce on the local bourse on Monday following "a lousy week last week". Markets will eye US home sales data out later.
By 9.22am the JSE all share index was 1.81% firmer, with resources 1,84% better off, and platinum miners 2.81% higher. Gold miners added 1.57%. Banks added 2.08%, financials gained 1.74%, and industrials were 1.74% stronger. Gold was quoted at $1 189.93/oz from $1 178.03/oz at the JSE's last close. Platinum was at $1 535.50/oz from $1 497.50/oz at the JSE's last close.
A local trader said: "We have seen a bounce this morning after a lousy week last week. Global sentiment is firmer, Europe has started well, and Dow Futures is also higher. Metals are firmer, with both gold and platinum higher." The trader noted home sales data out in the US later.
European stocks opened firmer on Monday, finding support from upbeat Asian stock markets and Wall Street's rally on Friday, despite sentiment remaining fragile on persistent worries about the euro zone's sovereign-debt problems according to Dow Jones Newswires.
In Asia on Monday, stock markets turned mostly higher, with Chinese property developers in Hong Kong and the mainland surging on anticipation that Beijing might go slow on any fresh measures to curb domestic property prices.
