Money SA economy
The JSE opened slightly higher on Monday thanks to high commodity prices in trade characterised by thin volumes.
But a trader said he expected the domestic stock exchange to remain quiet because the US and UK markets were closed for holiday on Monday.
By 9.43am the JSE all share index was up 0.30%, with resources up 0.55%, and platinum miners 1.02% firmer. Gold miners added 0.50%. Banks ticked 0.06% higher, financials added 0.19%, but industrials were 0.10% better. Gold was quoted at $1 213.10/oz from $1 205.91/oz at the JSE's close on Friday. Platinum was at $1 565.00/oz from $1 555.50/oz at the JSE's last close.
"The local market is not getting any direction because the US and UK markets are closed for holiday. We normally get direction from these global markets," a trader said.
The trader said there were thin volumes at this stage this morning. "We expect a quiet day."
The local bourse opened a bit stronger on the back of higher commodity prices, which supported resources companies like BHP Billiton, Anglo American and Sasol.
Meanwhile, Down Jones Newswires reported that Asian stock markets were mostly up on Monday, with Ssangyong Motor powering higher in Seoul on news that seven companies had shown interest in buying the firm.
