Money SA economy
The JSE saw a bright start this morning amid positive global sentiment, with commodity stocks taking advantage of a softer US dollar.
At 9.22am the JSE all share index was 1.24% firmer, with resources up 1.90%, gold mining shares gained 1.22% and platinum miners picked up 1.82%. Banks and financials added 0.60% and 0.70% respectively, while industrials found 0.91%.
Gold was quoted at $1 123.99/oz from $1 113.99/oz at the JSE's last close, and platinum was at $1 542.50/oz, from $1 513.50/oz at the bourse's previous close.
A local trader said: "Markets were shocked by the Fed's discount-rate hike on Friday, but then interpreted it as a sign of economic recovery, and markets reversed. The Greek situation has subsided and a weaker dollar has seen commodities leading the way."
"Asia is mostly higher, and with better news from Europe and the US, global sentiment has lifted local stocks this morning."
Dow Jones Newswires reports European stocks are expected to open slightly higher Monday, following the strong performance in Asian equity markets.
However, traders note the absence of any economic data for Europe, US or the UK and warn direction could be hard to find.
In Asia, regional markets were mostly higher amid improved risk appetite, and a view that markets overreacted on Friday to the Fed's discount-rate hike, with gains in resources stocks.
On the JSE, Anglo American added R5.95, or 2.06%, to R294.95 and BHP Billiton gained R5.33, or 2.24%, to R243.38. Sasol pocketed R3.95, or 1.4%, to R286.70.
