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Johannesburg - South African stocks were 273 points higher in early trade on Thursday, directed by a rise in Asian
markets with strong precious metal counters proving firm support.
At 09:18 the JSE all share index had added 1.23%, with resources gaining 1.26%, gold counters 1.87% higher and platinum miners firming 1.40%.
Banks rose 1.66%, with financials and industrials putting on 1.40% and 1.05% respectively.
The rand was bid at R7.30 to the dollar from R7.33 when the JSE closed on Wednesday. Gold was quoted at $1 021.80 a troy ounce from $1 016.70/oz at the JSE's last close, and platinum was at $1 345.50/oz, from $1 342/oz at its previous close.
"We are up on the markets, we did see the US close higher yesterday and that filtered through into the Asian markets," a trader said.
"We just followed suit. We are seeing continued gains in commodity prices, especially precious metals. Resources are up, providing support for the market," he said.
- I-Net Bridge