Money SA economy
South African stocks ended firmer on Thursday amid better than expected initial jobless claims data, which boosted US market sentiment.
A local trader noted that eyes would turn to US non-farm payrolls data expected out tomorrow as international markets approached key resistance levels.
The local bourse had opened softer, but recovered throughout the day as the euro perked up against the US dollar, lifting metals prices off their lows.
By 5pm the JSE all share index added 0.33%, with gold shares 0.21% stronger, resources were flat, up 0.03%, but platinum miners declined a marginal 0.12%. Banks gained 0.80%, along with financials 0.79% better, and industrials improved 0.39%.
Gold was quoted at $1 134.18/oz from $1 126.74/oz at the JSE's last close. Platinum was at $1 573.50/oz from $1 565/oz at the JSE's last close.
A local equities dealer said: "We saw the market react to slightly better than expected initial jobless claims data out in the US. While the figures were only slightly better than expected, eyes will turn to jobless claims data in the US tomorrow as international markets are approaching key resistance levels, and the data might provide a good indication as to which way the markets will turn."
The trader noted that rand gains were not doing local shares any favours, but, he said, financials performed well.
Dow Jones Newswires reported US stocks opened higher Thursday, led by consumer stocks as retailers' February sales rose more than expected, while better-than-forecast reports on jobs and productivity also encouraged investors.
On the JSE, Anglo American was up 206c to R296 and BHP Billiton lost 49c to R241.01. Sasol wavered R1.45 to R284.55.
