Money SA economy
The JSE remained firm in midday trade on Tuesday, bolstered by firmer metal prices amid a rise in global risk appetite as concerns over Greece's debt subsided.
By noon, the JSE all share index had added 0.61%, with resources collecting 0.97%, gold miners firming 0.67% and platinum miners advancing 0.61%. Banks were up 0.23%, financials were 0.18% higher and industrials added 0.46%.
Gold was quoted at $1,113.13 a troy ounce from $1,103.98/oz at the JSE's last close. Platinum was at $1,621/oz from $1,615.50/oz.
"The JSE is up, much in line with European markets at the moment, although we appear to be a little bit stronger owing to resources which are up on higher metal prices," a local equities trader said.
Dow Jones Newswires reported that European stocks were higher Tuesday, as market participants ignored worries about further tightening of monetary policy in China and welcomed further progress on the Greek debt crisis ahead of the U.S. Federal Reserve's interest rate announcement, due later.
On Monday, European finance ministers agreed the terms on which they would offer a multi-billion-euro rescue package for Greece, as the debt-ridden nation presented risks for the European single currency.
In Asia Tuesday, stocks were mixed, with many investors cautious ahead of the results of the U.S. Federal Reserve and Bank of Japan policy meetings this week.
On the JSE, Anglo American firmed R3.65 or 1.22% to R302 and BHP Billiton added R3.21 or 1.33% to R245.21. Sasol advanced 35 cents to R283.85.
