Money SA economy
The JSE was up a fraction at its opening on Thursday tracking US futures ahead of weekly jobless claims out later in the United States.
By 09.17am local time the JSE all share index had gained 0.08%, as platinum miners climbed 0.26%, and gold miners added 0.74%, but resources slipped 0.23%. Banks picked up 0.69%, financials profited 0.44% and industrials firmed 0.20%. Gold was quoted at $1 167.36 a troy ounce from $1 161.05/oz at the JSE's previous close, while platinum was at $1 547.50/oz from $1 536.50/oz before.
A trader said: "It's a slightly firmer start this morning for the local bourse, tracking US futures ahead of US jobless data which should provide further direction.
"Locally, PPI (Production Price Index) is out later, but that shouldn't really be a factor," she said.
European stock markets opened in positive territory as they weigh up the competing influences of disappointing US economic data but upbeat second quarter corporate earnings, according to Dow Jones Newswires.
On Wednesday, market sentiment was dampened after data showing demand for US durable goods slid for a second straight month in June. At the same time, the Federal Reserve's latest beige-book report pointed to signs that the economic recovery may be running out of steam, adding to the market's disappointment.
"With the support that we've seen of late from strong corporate earnings being insufficient to keep the rally going and with Asian markets struggling off those US leads, we're eyeing a mixed open at best in Europe," said Ben Potter, research analyst at IG Markets.
Market participants' focus now really seems to be on the ongoing second quarter earnings season and company outlook statements are key, as views from chief executives on potential earnings will drive share price momentum, Potter added.
