Money SA economy
South African stocks ended firmly in the black on Wednesday led by resources, amid good performing metal prices. However, a local equities trader noted that a strong rand offset further gains on the local bourse.
By 5pm the JSE all share index was up 1.14%, with resources 2.15% better off, the gold mining index added 1.49% and platinum miners picked up 2.49%. Banks and financials gained 0.51% and 0.87% respectively, while industrials advanced 0.26%.
Gold was quoted at $1 137.71/oz from $1 126.74/oz at the JSE's last close. Platinum was at $1 581.50/oz from $1 565/oz at the JSE's last close.
A local equities dealer said: "Metal prices firmed during the course of the day, pushing resources up.
"Markets looked like they wanted to go higher, but a stronger rand curbed additional gains, weighing on the bourse somewhat.”
Dow Jones Newswires reported US stocks opened higher on Wednesday, boosted by smaller-than-expected private sector job losses and new plans unveiled by Greece to manage its budget.
On the JSE, Anglo American added R9.45, or 3.32%, to R293.94 and BHP Billiton firmed R4.54, or 1.92%, to R241.50. Sasol rose R2.01 to R286.
