Money SA economy
The JSE held on to earlier gains at noon on Friday as investors watched global stocks and awaited the publication of the European bank stress tests.
By noon local time the JSE all share index had gained 0.32%, as resources added 0.72%, and platinum miners picked up 1.37%. Gold miners garnered 0.20%. But banks lost 0.43% and financials fell 0.17%, while industrials rose 0.19%. Gold was quoted at $1 197.47 a troy ounce from $1 194.85/oz at the JSE's previous close, while platinum was at $1 542.00/oz from $1 527.00/oz before.
A trader said the local market remained stronger, but off earlier highs as it kept an eye on global equities. The trader said US futures were weaker and so were UK stocks, which fell despite the release of stronger than expected economic data in the UK. Investors, the trader said, were awaiting the forthcoming publication of the European bank stress tests.
A spike on Wall Street drove Asian markets higher on Friday, lifting Chinese shares for a fifth straight session and triggering a rebound in Japanese stocks that more than erased losses suffered earlier this week.
On the JSE, Anglo American plc climbed R2.99 or 1.05% to R286.49, and BHP Billiton added R1.50 to R224.90. Sasol rose 30 cents to R293.30.
