Money SA economy
The JSE remained firm at midday on Tuesday as resources stocks helped shore up the local market, while investors awaited key economic data from the US later in the day.
By noon local time the JSE all share index had risen 0.40%, with platinum miners gaining 0.40% and resources edging up 0.37%.
But gold miners shed 0.51%. Banks fell 0.33%, but financials were 0.26% higher and industrials firmed 0.47%. Gold was quoted at $1,226.99/oz from US$1,224.80/oz at the JSE's previous close, while platinum was at $1,544.00/oz from $1,5320/oz before.
A trader said higher commodity prices gave local resources counters a boost.
The trader also said the market was keeping an eye on international equities and lacked direction ahead of "a lot of economic data from the US." The US is expected to release the latest housing starts, building permits, and industrial production figures.
Dow Jones Newswires reports that Asian stock markets traded modestly higher on Tuesday, but weakened towards the close.
European stock markets rose on Tuesday, led higher by strength in the basic-resources sector and upbeat corporate results. In London, the FTSE100 was last 0.88% firmer.
On the JSE, Anglo American rose R2.76 or 1.01% to R275.75, BHP Billiton added 84 cents to R223.34 and Sasol was 25 cents higher at R290.50.
