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Johannesburg - The JSE closed in positive territory on Tuesday as commodity stocks shone on the back of a softer US dollar.
At 17:00, the JSE all share index was 0.32% higher, with gold miners climbing 1.49%. Both banks and financials advanced 0.59%.
Industrials added 0.38%, while resources rose 0.14%. Platinum stocks were in the negative, having shed 0.55%.
The rand was bid at 6.80 to the dollar from 6.82 at the JSE's close on Monday. Gold was quoted at US$1 393.60 a troy ounce from US$1 376.55/oz at the JSE's previous close, while platinum was at $1 695.50/oz from $1 701.50/oz before.
A local trader said that it was a "range bound" day and that the rand was a little firmer against the dollar, which weakened against most major currencies.
"The gold sector is up fairly firmly. It was the best performing sector of the day," the trader added.
Dow Jones Newswires reported that US stocks opened slightly higher Tuesday as investors were encouraged by a bigger-than-expected rise in US retail sales for November, but a disappointing earnings report from Best Buy limited the gains.
The Dow Jones Industrial Average rose 30 points, or 0.3%, to 11459, while the Nasdaq Composite rose 0.2% to 2630. The Standard & Poor's 500 index added 0.2% to 1243, with its health-care sector in the lead.
Consumer stocks were also strong, with Hasbro rising 1%, Target advancing 0.7% and Tiffany adding 0.4%. Lifting the sector, the Commerce Department reported a 0.8% increase in US retail sales for November, topping economists' expectations for a 0.5% rise. Excluding autos, retail sales in November rose 1.2%, topping expectations for a gain of 0.7%.
While the retail sales provided some encouragement, investors remain cautious on the outlook for the retail sector after Best Buy issued a dour report for the quarter ended November 27, which included Black Friday.
Separate data showed US producer prices increased more than expected last month, pushed higher by rising energy and food costs, while underlying wholesale inflation remained tame.
The index of producer prices, which measures how much manufacturers and wholesalers pay for goods and materials, rose a seasonally adjusted 0.8% in November from October, the Labor Department said. It was the biggest gain since March and the fifth monthly increase in a row.
