Money SA economy
The JSE remained firm at midday on Wednesday, up just over 1% as strong commodity prices buoyed the market. Platinum miners were the star performers, with the index up more than 2%.
By noon the JSE all share index had added 1.15%, with resources 1.28% firmer and platinum miners 2.25% stronger. However, gold miners gave up 1.82% after their recent strong run. Banks were 1.36% higher, financials collected 1.31% and industrials garnered 0.90%. Gold was quoted at $1 236.05/oz from $1 247.17/oz at the JSE's previous close while platinum was at $1 532.50/oz from $1 525.50/oz at the JSE's last close.
A local trader said global markets are still jittery. 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 were mixed this morning.
Local gold counters pulled back after a strong run on Tuesday, and are taking a breather, but platinum miners continued to benefit from a strong platinum price.
Dow Jones Newswires reports US stocks are called to open lower on Wednesday, in line with futures, says David Morrison at GFT.
It was a mixed picture on Asian stock markets, with the Nikkei ending down just over 1%, but the Hang Seng up 0.7%. In London, the FTSE100 was last down 13.5 points.
On the JSE, Anglo was up R5.01, or 1.8%, to R279.31 and BHP Billiton added R4 or 2% to R200. Sasol advanced R2.36 to R271.36.
