Money SA economy
The JSE opened firmer on Wednesday, led by resources stocks which were up over 1%, and supported by a strong close on Wall Street overnight.
By 9.15am the JSE all share index had added 0.71%, with resources 1.13% firmer and platinum miners 1.01% stronger. However, gold miners gave up 1.86% after their recent strong run. Banks were 0.66% higher, financials collected 0.75% and industrials garnered 0.35%. Gold was quoted at US$1,234.41 a troy ounce from US$1,247.17/oz at the JSE's previous close while platinum was at $1,527.50/oz from $1,525.50/oz at the JSE's last close.
A local trader said that overnight the US had a volatile session, but managed to close on a positive note, with the Dow Jones industrial average up 1.26%. However, Asian markets are mixed this morning.
Local gold counters have pulled back after a strong run Tuesday, and are taking a breather, the trader added.
At present, Dow futures are up around a quarter of a percent.
Dow Jones Newswires reported European bourses are likely to open higher, taking their cues from a late-session rally in the US.
It was a mixed picture on Asian stock markets, with the Nikkei ending down just over 1%, but the Hang Seng last up just over 1%.
