Money SA economy
South African stocks closed firmly in the black on Friday amid far better than expected US retail data.
The Commerce Department said Friday that US retail sales rose by 0.3% in February, with many expecting a decline.
By 5pm the JSE all share index was up 1.26%, with resources gaining 1.98%, gold miners picked up 2.21% and platinum miners firmed 1.86%.
Banks pocketed 1.12%, financials found 0.93% and industrials were up 0.69%.
Gold was quoted at $1,110.02 a troy ounce from $1,102.22 at the JSE's last close. Platinum was at $1,616.50/oz from $1,586/oz at the JSE's last close.
A local equities dealer said: "Our market this morning was pushed by a reversal from US stocks when we closed on Thursday. The US rallied overnight.
"And then US retail data out earlier was better than expected, boosting the local market further. We are very much sentiment driven at the moment," he said, also noting an increase in platinum prices.
Dow Jones Newswires reported that US stocks opened higher Friday, as investors were cheered by an unexpected jump in US retail sales last month and reports of a crowd-pleasing nomination for the Fed's vice chairman spot.
On the JSE, Anglo American added R8.90, or 3.01% to R304.90 and BHP Billiton gained R4.02 or 1.65% to R247.90. Sasol pocketed 262 cents to R285.
