Money SA economy
The JSE was off its morning highs in midday trade, but remained on the front foot amid firm metal prices, which boosted commodity stocks according to a local trader.
European stocks and Dow futures entered red territory as volatility crept back into markets.
By 12pm the JSE all share index was 0.89% firmer, with resources 0.23% better off, and platinum miners 2.32% higher. Gold miners added 1.17%. Banks added 1.65%, financials gained 1.22%, and industrials were 1.33% stronger. Gold was quoted at $1,186.05/oz from $1,178.03/oz at the JSE's last close. Platinum was at $1,528.50/oz from $1,497.50/oz at the JSE's last close.
"We have drifted off our earlier highs, in line with global markets with Dow Futures lower, and stocks in Europe also down. There is still quite a bit of volatility in the market," a local equities trader said.
Dow Jones Newswires reports that US stocks are expected to open down on Monday, running out of steam following the rally in the previous session.
Asian stock markets were mostly higher Monday with property developers in China rising on hopes that Beijing may ease up on future tightening measures to curb the property market, though shares in Japan ended mostly lower as investors were still cautious about debt troubles in the euro zone.
By noon on the JSE, Anglo dropped R2.35 to R279, while BHP Billiton slipped 45 cents lower to R204.65. Sasol lost 20 cents to R272.50.
