JSE continues to climb

The JSE extended its earlier gains by midday on Thursday, tracking positive sentiment in Europe after better than expected economic data.

By noon local time the JSE all share index had gained 0.97%, as resources added 1.36%, and platinum miners picked up 1.49%.

Gold miners garnered 0.36%. Banks added 0.95%, financials improved 0.71% and industrials found 0.65%. Gold was quoted at $1 187.05 a troy ounce from $1 192.93/oz at the JSE's previous close, while platinum was at $1 517/oz from $1 526.00/oz before.

A local trader said: "We are tracking positive sentiment in Europe after better than expected data out there. The market also appears to be taking some comfort that the results of Friday's bank stress test will be positive, helping the current situation in Europe."

He noted that eyes would turn to the MPC decision later today.

Dow Jones Newswires reported that US stocks are picked to open sharply higher Thursday, tracking gains in European markets.
European stocks added sharp gains as investors look ahead to Friday's bank stress test results and also find comfort in stronger than expected economic data from the euro zone.

Asian shares ended mixed Thursday as Federal Reserve Chairman Ben Bernanke's downbeat assessment of the US economic outlook spooked investors, sending Japanese stocks lower for a fifth straight session.

On the JSE, Anglo American plc rose R5.69 or 2.05% to R283.69, and BHP Billiton gained 315 cents or 1.43% to R223.15. Sasol improved R2.02 to R290.