Money SA economy
The JSE closed firmly in the black on Thursday for a second straight day amid positive global sentiment and bargain hunting.
China quashed rumours that it was planning to sell its holdings in European bonds resulting in a collective sigh of relief from investors.
The JSE all share index finished 1.49% stronger, with resources 2.29% better off, and platinum miners 3.56% firmer. Gold miners shed 2.11%. Banks gained 0.27%, financials added 1.14%, and industrials grew 0.86%. Gold was quoted at $1,215 a troy ounce from $1,215.03/oz at the JSE's last close. Platinum was at $1,548.50/oz from $1,533.50/oz at the JSE's last close.
A local equities trader said: "US futures boosted markets initially after China eased investors fears by saying that it is not planning to sell its holdings in European bonds."
Dow Jones newswires reports that US stocks climbed broadly Thursday as China's statement that it is not planning to sell its holdings in European bonds relieved investors and lifted the euro.
The euro rose to $1.2240 after the China State Administration of Foreign Exchange, which manages the nation's reserves, said media reports that it is considering selling some of it holdings of euro-zone government bonds were "groundless."
The US stock market had slid in late trading Wednesday in a lapse that coincided with a report in The Financial Times that China was mulling such sales.
On the JSE, Anglo added R9.42 or 3.26% to R298.61, while BHP Billiton gained R7.65 or 3.68% to R215.49. Sasol garnered R2.51 to R277.
