Money SA economy
The JSE ended firmer on Friday on the back of a stronger open on Wall Street, but the pending release of European stress test results caused investors to be wary.
The results of the stress tests, which are seeking to gauge whether Europe's banking sector is sufficiently capitalised, was due to be unveiled just after the local bourse closed at 5pm local time.
The JSE all share index gained 0.53%, as resources added 1.63%, and platinum miners climbed 1.39%. Bucking the positive trend, gold miners lost 0.95%. Banks strengthened 0.80%, financials rose 0.57% and industrials edged up 0.42%. Gold was quoted at $1,190.22/oz 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.
Dow Jones newswires reports that US stocks edged up on Friday as investors took encouragement from a round of largely positive earnings but concerns simmered that the results of European bank stress tests at midday will not resolve lingering uncertainties about the banks' stability.
Industry and government officials in Greece, Spain and Germany have hinted this week that major banks in their countries will come through the tests without trouble, though some investors worry the tests may not be tough enough.
On the JSE, Anglo American plc climbed R4.87 or 1.72% to R288.37, and BHP Billiton added R1.12 to R224.52. But Sasol lost a rand to R292.
