Money SA economy
The JSE edged into the black in early trade amid some bargain hunting and cautious trade after the market was sold off heavily on Monday.
At 9.15am the JSE all share index had edged up 0.20%, with resources inching 0.14% higher, and platinum and gold producers collecting 0.43% and 0.42% respectively. Banks edged up 0.26%, financials were up 0.58% and industrials were flat, up 0.08%
"The US was up last night, but Asia was mixed, so I'm not sure if we will hold. It's a busy week in terms of data. The rand is still weak so it might help some of these gold stocks. The market is a bit cautious, most stocks are trading at very high levels. I don't expect to be too strong, but maybe we will get direction from the US later in the day," a trader said.
Dow Jones Newswire reported that a profitable quarter for Ford and a round of better-than-expected economic data helped lead stocks higher on Monday, though the buying was concentrated in United Technologies, Procter & Gamble and other blue-chips.
Asian share markets are mixed on Tuesday in subdued trade as a holiday in Japan kept bourses range-bound, with gold stocks posting gains in Australia. Japan markets were closed for holiday while Hong Kong's Hang Seng was last down 0.9%.
European share markets are likely to open lower shedding some of Monday's gains, as investors look past recent improvement in economic data.
Back in Johannesburg, Anglo American Plc gave up 21c to R292.79 and BHP Billiton eased 11c to R216. Petrochemicals group Sasol collected 60c to R294.10.
