Money SA economy
The JSE opened relatively flat on Wednesday, however showing positive bias in line with international markets, kick-started by strong earnings in the US which sent Wall Street higher.
By 09.20am local time the JSE all share index had added 0.24% as resources gained 0.19%, platinum miners found 0.34% but, gold miners declined 0.44%. Banks grew 0.57%, while financials picked up 0.41% and industrials rose 0.26%. Gold was quoted at $1 213 a troy ounce from $1 214.49/oz at the JSE's previous close, while platinum was at $1 529.50/oz from $1 524.00/oz before.
A local trader noted a "good start" on the local bourse, driven by global markets. "We aren't running away just yet though as investors aren't entirely convinced. The US was boosted by strong earnings largely from Intel, but there are a few underlying economic pressures in Europe," she said.
European stocks opened higher Wednesday, taking their cue from a triple-digit gain for the Dow Jones Industrial Average and very strong results from Intel, which confirmed its best quarter in its 42-year history, according to Dow Jones Newswires.
The Dow Jones Industrial Average climbed 1.4% to 10 363.02.
Asian shares climbed Wednesday as broad-based gains were led by the technology sector following the well-received Intel results.
