Money SA economy
The JSE continued to pile on more gains at noon on Monday after opening stronger earlier, tracking robust global markets and getting a boost from higher local resources shares.
By 12.00pm local time the JSE all share index had gained 1.02%, with banks up 0.34% and financials rising 0.42%. Resources were 2.05% stronger, platinum counters rallied 2.21% and gold shares edged up 0.62%. Industrials rose 0.36%. Gold was quoted at $1 1177.47 a troy ounce from $1 175.16/oz at the JSE's previous close, while platinum was at $1 588.00/oz from $1 564.00/oz before.
A trader said the local market is rising on the back of offshore equities. "It's a good news day," the trader said.
Dow Jones Newswires reported Asian stocks pushed higher, with the Tokyo market spurred upwards by strong earnings reports.
Investors also appeared to be looking past data on Sunday showing China's manufacturing activity expanded at the slowest pace in 17 months in July as some economists had expected the data to show a contraction. Japan's Nikkei Stock Average was up 0.3%, paring gains, and the Hang Seng gained 1.82%.
On the JSE, Anglo American Plc rallied R7.00 or 2.39% to R300.45, and BHP Billiton spurred R5.73 or 2.54% to R231.08. Sasol gained R4.30 or 1.49% to R293.30.
