Money SA economy
South African stocks tracked positive global sentiment on Monday ending in the black, assisted by strong commodity prices.
By 5pm the JSE all share index was up 0.76%, with resources gaining 0.90%, platinum miners were 0.69% better, but gold stocks were down 0.99%.
Banks garnered 0.94%, financials added 0.62%, and industrials picked up 0.68%.
Gold was quoted at $1,126.93 a troy ounce from $1,133.50 at the JSE's last close. Platinum was at $1,594/oz from $1,581/oz at the JSE's last close.
A local equities dealer said: "Momentum on the market has continued from Friday, following good US jobless claims data. Commodity prices continue to rise, and with concern over Greece subsided for now, a weaker dollar, and conversely a stronger euro, has favoured our local market.
"General global market sentiment is upbeat amid current positive news-flow."
Dow Jones Newswires reported that US stocks opened slightly higher on Monday, fuelled by a flurry of deals and rising commodities and metals prices that boosted materials and energy.
In Europe, comments from French President Nicolas Sarkozy on being ready to assist Greece and from German Finance Minister Wolfgang Schaeuble on a possible European Monetary Fund helped nudge the euro higher.
On the JSE, Anglo American shipped 90 cents to R298.50, but BHP Billiton found R4.92, or 2.01%, to R249.37. Sasol garnered seven rand, or 2.46%, to R291. 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.
