Money SA economy
The JSE opened stronger on Tuesday following positive global sentiment fuelled by modest gains on Wall Street overnight.
By 09.23am local time the JSE all share index had gained 0.61% as resources rose 1.12%, and platinum miners firmed 0.76%, but gold miners were 0.60% weaker. Banks added 0.37%, financials climbed 0.33% and industrials increased 0.31%. Gold was quoted at $1 183.51 a troy ounce from $1 179.78/oz at the JSE's previous close, while platinum was at $1 512.50/oz from $1 503.50/oz before.
A trader said the local market was tracking international equity markets at the moment. "US markets closed firmer overnight, and European markets have shown some strength," the trader said, warning that investors were cautious amid the earnings reports in the US.
Dow Jones Newswires reported that Asian stock markets were mixed on Tuesday despite a modest rise on Wall Street on Monday, as disappointing US earnings restrained buyers, with tech plays falling sharply in Tokyo.
Sentiment in Asia was weighed by second-quarter earnings from International Business Machines and Texas Instruments, reported after the US market shut on Monday.
European stocks opened higher on Tuesday, taking their lead from a positive finish in the US overnight, and overall a positive start to the week in terms of corporate earnings news.
On the JSE, Anglo American plc rallied R3.80 or 1.38% to R278.80, and BHP Billiton surged R4.26 or 2.02% to R215.48. Sasol was up R2.30 to R282.50.
