Money SA economy
The JSE moved into positive territory on Tuesday morning, tracking positive sentiment in Europe buoyed by an oversubscribed bond auction in Ireland, which raised 1.5 billion euros.
By 12pm local time the JSE all share index had gained 0.16%, with gold miners 0.18% firmer. Resources however, were down a fraction, by 0.08%, and platinum miners edged 0.14% lower. Banks picked up 0.43%, financials gathered 0.25% and industrials advanced 0.31%. Gold was quoted at USD1,281.38 a troy ounce from USD1,282.78/oz at the JSE's previous close.
A trader said: "We opened on a rather negative note this morning, but positive sentiment in European markets seemed to filter into local stocks, while commodities lifted off their lows. The FOMC will have some impact on the US later today, which might only have local impact tomorrow."
Dow Jones Newswires reports that US stocks are expected to start lower, taking a breather after their solid rally in the previous session. David Morrison at GFT said there were indications the stock market was overbought, so a period of consolidation could be in order.
European stocks rose following the Irish bond auction. Ireland said it raised €1.5 billion via an oversubscribed bond auction boosting investor confidence in the troubled nation's economy.
Asia was mixed with the Nikkei 24 points lower, while the Hang Seng added 25 points.
On the JSE, Anglo American gained 36 cents to R283.45, but BHP Billiton declined 18 cents to R218.94 and Sasol shed R2.75 to R308.25. Among gold counters, AngloGold picked up 50 cents to R316.49 and Gold Fields advanced 51 cents to R107.63.
