Money SA economy
The JSE opened virtually flat on Thursday following Wednesday's rally that was fuelled by upbeat global economic data.
There is some consolidation in the local market as attention turns to more upcoming economic data, in particular Friday's US nonfarm payrolls, Kevin Algeo, portfolio manager at Imara SP Reid, said.
By 9.24am local time the JSE all share index had gained 0.13%, with platinum miners rising 0.69% and gold miners dropping 0.50%. But resources fell 0.13% higher. Banks rose 0.13%, financials added 0.12%, and industrials edged up 0.23%. Gold was quoted at $1 247.88/oz from $1 245.54/oz at the JSE's previous close, while platinum was at $1 538.00/oz from $1 533.50/oz before.
Dow Jones Newswires reports that Asian markets were higher on Thursday on the back of the stronger-than-expected US manufacturing data. Still, reflecting the still-cautious tone, markets failed to match Wall Street's gains as investors waited for Friday's key US jobs report.
European stocks opened lower on Thursday, as investors look to take profits after the sharp gains of the previous session, amid caution ahead of Friday's US nonfarm payrolls release.
