Money SA economy
The JSE remained higher in midday trading on Thursday, buoyed by the positive sentiment in global stock markets following positive pending home sales and auto sales data in the US on Wednesday.
By 12.04pm the JSE all share index gained 1.13%, with resources 1.61% firmer, and platinum miners up 0.78%. Gold miners added 0.46%. Banks were 0.89% stronger, financials added 0.95%, and industrials were 0.74% firmer. Gold was quoted at $1 218.49/oz from $1 219.16/oz at the JSE's previous close. Platinum was at $1 559.50/oz from $1 548/oz at the JSE's last close.
"The JSE took its cue from the global markets following a strong rally on Wall Street on Wednesday on the back of the strong pending home sales and auto sales figures. However, the market will later today watch the US non-farm payroll data for direction," a local equities trader said.
The JSE has lost 7.83% since reaching its best level so far this year of 29 565 points on April 16.
Dow Jones Newswires reported that European stocks rallied strongly on Thursday, led higher by energy and mining companies, despite disappointing economic data from both the euro zone and the UK.
Meanwhile, US stock index futures pointed to a higher opening on Wall Street ahead of the key US nonfarm payrolls data on Friday.
Asian stock markets ended higher on Thursday.
On the JSE, Anglo gained R6.89 or 2.37% to R297.30 and BHP Billiton added R4.25 or 2.04% to R212.35. Sasol picked up R3.79 or 1.36% to R282.53.
