Money SA economy
The JSE continued its firm run in midday trade on Wednesday led by commodities, and in line with global sentiment.
A local trader noted that the JSE did not react to better than expected consumer price index (CPI) data, which is used by the South African Reserve Bank (SARB) for its inflation target.
By 12pmthe JSE all share index was 2.02% firmer, with resources 2.26% better off, and platinum miners 3.36% firmer. Gold miners gained 0.83%. Banks ticked 1.89% higher, financials added 1.42%, and industrials were 2.01% stronger. Gold was quoted at $1,212.80/oz from $1,198.67/oz at the JSE's last close. Platinum was at $1,537/oz from $1,490.70/oz at the JSE's last close.
Dow Jones Newswires reports that US stocks are expected to open higher Wednesday, after the main indexes managed to finish well off lows in the previous session.
European stock markets rose sharply on Wednesday, with Wall Street's late rebound on Tuesday boosting confidence despite continuing worries about the health of the euro and the tensions on the Korean peninsula.
Asian markets ended higher on Wednesday after a late-session recovery on Wall Street Tuesday helped whet appetite for stocks, with shipping and resource companies leading the charge on upbeat freight rates and a rebound in commodity prices.
By noon on the JSE, Anglo added R6.85 or 2.43% to R288.40, while BHP Billiton gained R5.20 or 2.59% to R206.20. Sasol garnered R2.48 to R271.20.
