Money SA economy
The JSE opened in positive territory on Friday tracking Asian stocks while markets were also boosted by far better than expected GDP data out of Germany, Europe's largest economy.
By 10.24am local time the JSE all share index added 0.77%, with resources 1.06% firmer and platinum miners 0.72% stronger. Gold miners however, lost 0.63%. Banks gained 0.99%, financiers were 0.67% better off and industrials added 0.52%. Gold was quoted at $1,216/oz from $1,1214 45/oz at the JSE's previous close, while platinum was at $1,534/oz from $1,529.50/oz before.
A local trader said: "Asian markets are trading firmer, while Dow futures also look positive. There does appear to be a few bits of light at the end of the tunnel, however, volume remains thin. Gold has ticked firmer. Markets will turn to US retail sales and consumer price data out later for further direction."
German GDP grew far more than expected in 2Q, by a record 2.2%, its best performance since reunification two decades ago. European stock markets opened marginally higher on Friday, helped by earlier gains on Asian markets, but volumes are likely to be light with key economic data in focus, Dow Jones Newswires reported.
On Wall Street on Thursday, stocks fell for a third-straight day as a revenue warning from Cisco Systems weighed on other technology stocks while disappointing US jobs data also sent jitters across the market.
Billiton gained R4.07 or 1.85% to R224.27, and Sasol pocketed R4.35 and or 1.52% to R290.
