Money SA economy
The JSE extended its gains in midday play on Thursday in line with global sentiment, boosted by US stock futures.
By 12:00 the JSE all share index was 0.97% firmer, with resources 2.25% better off, and platinum miners 2.89% firmer. Gold miners shed 1.88%. Banks lost 0.46%, but financials added 0.3%, and industrials were flat. Gold was quoted at US$1,211.74 a troy ounce from US$1,215.03/oz at the JSE's last close. Platinum was at $1,545/oz from $1,533.50/oz at the JSE's last close.
A local equities trader said: "We saw some follow through from Australia and Asia this morning amid good value in mining stocks. Global sentiment is generally more positive, with US futures leading the way."
The JSE did not react to South Africa's producer price index (PPI), which registered growth of +5.5% year-on-year (y/y) in April from +3.7% y/y in March, Statistics South Africa (Stats SA) data on Thursday showed.
European stocks advanced on Thursday helped by hefty advances in US stock futures on hopes that economic growth will offset Europe's debt problems.
Asian markets erased early session losses to end higher Thursday, as bargain-hunters scooped up recently battered shares ranging from Australian miners to Chinese banks and South Korean technology stocks.
By noon on the JSE, Anglo (AGL) added 9.51 rand or 3.29% to 298.70 rand, while BHP Billiton (BIL) gained 7.86 rand or 3.78% to 215.70 rand. Sasol (SOL) garnered 2.41 rand to 276.90 rand.
