Money SA economy
The JSE shrugged off a soft start on Wall Street amid a slew of negative US data on Monday, to close out the day firmly in black territory.
The JSE was strong throughout the day having initially tracked Asian markets reacting positively to weekend comments by US Federal chair Ben Bernanke that he would intervene in the economy should "unexpected developments" further threaten US recovery.
By 05.00pm local time local time the JSE all share index had added 1.51%. Resources were 1.96% higher, Platinum miners rose 2.26%, and Gold miners gained 0.53%. Banks added 1.63%, financials were 1.34% higher and industrials pocketed 1.18%. Gold was quoted at $1 236.40 a troy ounce from $1 241.40/oz at the JSE's previous close, while platinum was at $1 531.50/oz from $1 532/oz before.
A trader said: "We saw a decent bounce today on the local market which reacted initially to Bernanke's comments on Friday. US stocks have dragged us back a bit amid some negative news in the US."
Dow Jones Newswires reports that stocks fell Monday after data showed personal income remains sluggish while business activity in the Dallas area remains weak, adding to investors' worries over the health of the economy.
Asian markets traded mostly higher on Monday, but Japan's shares ended well off the day's highs as traders were disappointed by the Bank of Japan's new easing measures aimed at addressing the country's anaemic economic recovery and a high yen.
On the JSE, BHP Billiton added R4.55 or 2.25% to R206.55, Anglo American gained R7.19 or 2.78% to R266.99 and Sasol added R3 or 1.08% to R280.
