Johannesburg - Resources pushed the JSE into positive territory on Tuesday morning, tracking firmer commodities in Australia and amid a weaker dollar. A local trader noted that US earnings releases, expected out later in the week, should provide further direction.
By 09:12 local time, the JSE all share index added 0.32%, with resources 0.44% firmer, platinum miners 0.54% stronger, and gold miners 0.06% better off. Financials were down a fraction by 0.02%, while banks eked out a marginal gain of 0.03%. Industrials however, gathered 0.35%.
The rand was trading at R6.87 to the dollar from 6.88 the JSE's close on Monday. Gold was quoted at $1 366.55 a troy ounce from $1 361.08/oz at the JSE's previous close, while platinum was at $1 814.50/oz from $1 808.00/oz before.
"The market has tracked commodity stocks particularly in Australia this morning. Commodity prices are also stronger on the back of a weaker dollar overnight. Yesterday's drop (on the JSE) looks like nothing more than a breather as the market looks to build on last week's gains," the trader said.
"US earnings excepted out later are always something to watch," he said.
Dow Jones Newswires reports that Asian stock markets were mixed on Tuesday, with Tokyo shares weighed by falls in tech stocks.
Many investors appeared content to keep activity to a minimum in the absence of catalysts due to Monday's US holiday.
Japan's Nikkei Stock Average was off 0.2%, South Korea's Kospi Composite shed 0.2%, the HSI added 0.8% and the Shanghai Composite was down 0.4%.
The Tokyo market was dragged lower by losses in tech stocks following a 6.2% drop in Apple Inc. shares in the Frankfurt market, after CEO Steve Jobs said he is taking an medical leave of absence. This marks the third time in the past decade that the 55-year-old CEO has been forced to step back from his role at the tech giant for medical reasons.
China plans to cut new CNY lending by as much as 10% this year, setting a full-year target of CNY7.2 trillion-CNY7.5 trillion, vs CNY7.95 trillion extended in 2010, state-run China Securities Journal reports, citing unnamed sources.
European stocks are set to open higher on Tuesday, following a mostly positive Asian session, says Ben Potter at IG Markets.
He calls London's FTSE 100 up 22 points at 6,008. However, sovereign debt will remain in focus as the meeting of eurozone finance ministers continues, notes Potter.
Traders will watch for US earnings releases, with both Apple and Citigroup due to report during the coming hours, while Wall Street's reaction after the long weekend will also be closely followed, says Potter.
By 09:12 local time, the JSE all share index added 0.32%, with resources 0.44% firmer, platinum miners 0.54% stronger, and gold miners 0.06% better off. Financials were down a fraction by 0.02%, while banks eked out a marginal gain of 0.03%. Industrials however, gathered 0.35%.
The rand was trading at R6.87 to the dollar from 6.88 the JSE's close on Monday. Gold was quoted at $1 366.55 a troy ounce from $1 361.08/oz at the JSE's previous close, while platinum was at $1 814.50/oz from $1 808.00/oz before.
"The market has tracked commodity stocks particularly in Australia this morning. Commodity prices are also stronger on the back of a weaker dollar overnight. Yesterday's drop (on the JSE) looks like nothing more than a breather as the market looks to build on last week's gains," the trader said.
"US earnings excepted out later are always something to watch," he said.
Dow Jones Newswires reports that Asian stock markets were mixed on Tuesday, with Tokyo shares weighed by falls in tech stocks.
Many investors appeared content to keep activity to a minimum in the absence of catalysts due to Monday's US holiday.
Japan's Nikkei Stock Average was off 0.2%, South Korea's Kospi Composite shed 0.2%, the HSI added 0.8% and the Shanghai Composite was down 0.4%.
The Tokyo market was dragged lower by losses in tech stocks following a 6.2% drop in Apple Inc. shares in the Frankfurt market, after CEO Steve Jobs said he is taking an medical leave of absence. This marks the third time in the past decade that the 55-year-old CEO has been forced to step back from his role at the tech giant for medical reasons.
China plans to cut new CNY lending by as much as 10% this year, setting a full-year target of CNY7.2 trillion-CNY7.5 trillion, vs CNY7.95 trillion extended in 2010, state-run China Securities Journal reports, citing unnamed sources.
European stocks are set to open higher on Tuesday, following a mostly positive Asian session, says Ben Potter at IG Markets.
He calls London's FTSE 100 up 22 points at 6,008. However, sovereign debt will remain in focus as the meeting of eurozone finance ministers continues, notes Potter.
Traders will watch for US earnings releases, with both Apple and Citigroup due to report during the coming hours, while Wall Street's reaction after the long weekend will also be closely followed, says Potter.