Money SA economy
The JSE opened flat on Friday with trading on the local bourse expected to wane during the course of the day ahead of kick-off of the Fifa World Cup tournament.
By 9.30am the JSE all share index had given up 0.3%, with resources 0.42% softer and platinum miners 0.96% weaker. However, gold miners added 0.37%. Banks were 0.67% worse off, financials dropped 0.43% and industrials were flat. Gold was quoted at $1 221.35/oz from $1 218.65/oz at the JSE's previous close while platinum was at $1 542/oz from $1 541.00/oz at the JSE's last close.
A local trader said: "We opened relatively flat, amid positive sentiment across global markets." She noted that markets are expected to die down during the course of the day ahead of the kick-off of the Fifa World Cup tournament, however retail sales in the US along with Michigan confidence index would keep the local market interested.
The JSE will close at its normal time - 5pm.
European stocks started mostly higher on Friday, taking some cheer from the rally on Wall Street Thursday and recent comments from European officials that have helped reassure investors about the global economy, according to Dow Jones Newswires.
In Asia on Friday, the Shanghai Composite index rose 0.7%, lagging gains in other regional indexes. Japan's Nikkei Stock Average was up 1.7%, South Korea's Kospi Composite was up 1.4%, and Hong Kong's Hang Seng index was up 1.4%.
