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Johannesburg - The JSE kept a positive bias at noon, led mainly by gold shares, as the all-share index looked to recover from the previous day's selloff.
At 12:11 local time, the JSE All Share [JSE:J203] index was up 0.82% to 33 239.69 points, with gold shares gaining 2.26%, resources recovering 0.77% and platinums counters edging up 0.10%.
Financials lifted 0.42%, banking stocks garnered 0.49% and industrials were 0.99% in the black.
The rand was trading at 8.51 to the US dollar, from 8.48 at the JSE's close on Wednesday, while gold was quoted at $1 567.19 a troy ounce from $1 551.05/oz at the JSE's previous close and platinum recovered slightly to $1 410.70/oz, from $1 395.70/oz at the previous session.
"It is nothing more than the technical bounce in the absence of positive newsflow or economic data," said Hennie Fourie, stockbroker at PSG Konsult.
Devin Shutte, a trader at stockbrokerage Newstrading, said: "I wouldn't read too much into this bounce. It is short term volatility playing on investors' minds. The fundamentals in the eurozone still remain weak."
European markets also maintained their gains at noon, with UK's FTSE up 0.77% to 5 343.31 points.
However, Asian markets finished the month bruised after concerns over the health of the Spanish banking system pushed stocks down across the region, with Australia and Japan recording their worst month in two years, Dow Jones Newswires reported.
The selloff came as the Spanish government said it would auction treasury bonds to raise cash for the bailout of beleaguered local bank, Bankia.
Retail and corporate deposits in Spanish banks dropped to the lowest level since the eurozone debt crisis started, according to the European Central Bank. Japan's Nikkei finished 1.05% weaker.
Asia's worst performer for the month was the Hang Seng Index, which dropped 11.7% and was 0.3% down on the day.
At 12:11 local time, the JSE All Share [JSE:J203] index was up 0.82% to 33 239.69 points, with gold shares gaining 2.26%, resources recovering 0.77% and platinums counters edging up 0.10%.
Financials lifted 0.42%, banking stocks garnered 0.49% and industrials were 0.99% in the black.
The rand was trading at 8.51 to the US dollar, from 8.48 at the JSE's close on Wednesday, while gold was quoted at $1 567.19 a troy ounce from $1 551.05/oz at the JSE's previous close and platinum recovered slightly to $1 410.70/oz, from $1 395.70/oz at the previous session.
"It is nothing more than the technical bounce in the absence of positive newsflow or economic data," said Hennie Fourie, stockbroker at PSG Konsult.
Devin Shutte, a trader at stockbrokerage Newstrading, said: "I wouldn't read too much into this bounce. It is short term volatility playing on investors' minds. The fundamentals in the eurozone still remain weak."
European markets also maintained their gains at noon, with UK's FTSE up 0.77% to 5 343.31 points.
However, Asian markets finished the month bruised after concerns over the health of the Spanish banking system pushed stocks down across the region, with Australia and Japan recording their worst month in two years, Dow Jones Newswires reported.
The selloff came as the Spanish government said it would auction treasury bonds to raise cash for the bailout of beleaguered local bank, Bankia.
Retail and corporate deposits in Spanish banks dropped to the lowest level since the eurozone debt crisis started, according to the European Central Bank. Japan's Nikkei finished 1.05% weaker.
Asia's worst performer for the month was the Hang Seng Index, which dropped 11.7% and was 0.3% down on the day.
