Money SA economy
The JSE was firmer in midday trade on Wednesday, with resource stocks leading the charge on the back of strong commodity prices with concerns over Greece having subsided somewhat.
However, markets are still a bit wary ahead of Greece's announcement of its new austerity measures and the release of key US labour market data.
At noon, the JSE all share index was up 0.63%, with resources 0.87% better off, the gold mining index adding 1.87% but platinum miners flat (+0.03%).
Banks and financials gained 0.40% and 0.43% respectively, while industrials advanced 0.46%.
Gold was quoted at $1,137.30 a troy ounce from $1,126.74 at the JSE's last close. Platinum was at $1,581/oz from $1,565/oz at the JSE's last close.
"We opened pretty flat, but the market has picked up, with the resource sector leading the charge owing to a weaker dollar and a stronger euro with concerns subsiding over Greece," a local equities trader said.
Dow Jones Newswires reports that European stocks were slightly lower Wednesday, as investors adopted a more wary stance ahead of Greece's announcement of its new austerity measures and the release of key US labor market data.
Meanwhile, Asian markets saw broad but modest gains Wednesday, with strength in commodity plays and upbeat economic data helping to lift Australia's benchmark stock index to its highest level in more than five weeks.
On the JSE, Anglo American added R4.01, or 1.41%, to R288.50 and BHP Billiton firmed R2.31 to R239.27. Sasol however gave up R2.20 to R281.79.
