Money SA economy
The JSE closed 870 points firmer on Wednesday after the Organization for Economic Cooperation and Development raised its estimates for global gross domestic product growth for 2010 and 2011.
A local trader also noted an uptick on the local bourse in the afternoon session amid better-than-expected reports on durable goods and housing in the US.
The JSE all share index finished 3.31% firmer, with resources 3.51% better off, and platinum miners 5.21% higher. Gold miners gained 4.48%. Banks ticked 2.9% higher, financials added 2.04%, and industrials were 3.76% stronger. Gold was quoted at $1,215.03/oz a troy ounce from $1,198.67/oz at the JSE's last close. Platinum was at $1,533.50/oz from $1,490.70/oz at the JSE's last close.
A local equities trader said that GDP forecast from the OECD boosted global stocks, taking the JSE along for the ride.
He also noted better than expected durable goods data out of the US, which added to the local bourse's momentum in the afternoon session.
Dow Jones newswires reports that US stocks rose broadly Wednesday following increased estimates for global economic growth and better-than-expected reports on durable goods and housing.
In Europe the UK's FTSE 100 Index added 2.54% to 5066.69.
On the JSE, Anglo added R7.64 or 2.71% to R289.19, while BHP Billiton gained R6.84 or 3.4% to R207.84. Sasol garnered R5.77 or 2.15% to R274.49.
