JSE opens on the up

The JSE opened firmer this morning, in line with other world markets, as stocks were lifted by the US Federal Reserve's decision to leave rates unchanged and its liberal monetary stance, underlined by it reaffirming its pledge to keep rates low.

By 9.15am the JSE all share index had added 0.53%, with resources up 0.76%, gold miners 0.80% firmer and platinum miners 0.51% stronger. Banks were 0.79% firmer, financials gained 0.55% and industrials were 0.28% higher.

Gold was quoted at $1 132.24/oz from $1 125.34/oz at the JSE's last close. Platinum was at $1 635.50/oz from $1 626/oz at the JSE's last close.

A local trader said the JSE was following overseas markets, with eastern markets looking particularly strong.

In addition to the positive news from the Fed, the local consumer confidence index, released Tuesday, was also buoying the market.

Dow Jones Newswires reported European stock markets are likely to start a bit higher, as investors draw inspiration from abating concerns about Greece and immediate monetary tightening.

Asian share markets are mostly higher on the back of the Fed statement, while Tokyo shares were supported by the Bank Of Japan's decision to further ease monetary conditions.

On the JSE, Anglo American firmed R3.59 or 1.19% to R304.25 and BHP Billiton added R1.58 to R247.60. Sasol advanced R1 to R285.