Money SA economy
The JSE saw a firm start on Monday, tracking global markets amid general positive sentiment.
At 9.20am the JSE all share index was up 0.83%, with resources gaining 1.27%, platinum miners were 0.96% better, and gold stocks extended 0.99%. Banks garnered 0.75%, financials added 0.70%, and industrials picked up 0.39%.
The rand was bid at R7.36/$, from R7.45/$ seen at the JSE's close on Friday. Gold was quoted at $1 136.55/oz from $1 133.50/oz at the JSE's last close. Platinum was at $1 585/oz from $1 581/oz at the JSE's last close.
A local equities trader said: "The local bourse has taken a world view with a bright start, following general positive global sentiment.
"The rand is strong at the moment, which has helped certain stocks, and I think we are set for a day with positive undertones.
The trader also noted metal prices remained on the front foot.
Dow Jones Newswires reports European stocks are expected to open higher Monday, following on from the strong performances across the US and Asian equity markets.
Chris Weston at IG Markets calls London's FTSE 100 up 26 at 5626. He notes London's FTSE 100 saw 18-month highs by the end of last week, and this positive momentum could spread across Europe as well.
However, he says the corporate and economic agendas are rather quiet, and direction may
consequently be difficult to find. German industrial production is due at 1100 GMT.
Markets in Asia were mostly up as resource-related stocks gained on back of higher commodity prices. The Nikkei gained 2.1%, and the Hang Seng picked up 2.08%.
On the JSE, Anglo American added R3.60, or 1.2% to R303, and BHP Billiton found R3.80, or 1.55%, to R248.25.
Sasol garnered R3.55, or 1.25%, R287.55. The world's largest fuel from coal producer on Monday reported a 51% fall in headline earnings per share to R10.67 for the six months to end December 2009.
