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Johannesburg - Positive sentiment on the world markets, fuelled by good economic news on job creation in the United States, lifted the JSE also higher on Friday morning.
Almost all the major indices on the JSE were higher by midday, after most Asian markets strengthened this morning after a positive close at Wall Street overnight.
The all share index traded above the 45 000 level this morning and was 0.48% higher at 45 203. The Top 40-index was also well above the 40 000 level and traded at 40 658, after it strengthened 0.48%.
Expectations are that the critical US non-farm payroll due later today will show further growth in the number of public and private sector jobs created in the world’s largest economy.
The payroll numbers, which indicate the strength of the American economy, have taken on huge significance since the Federal Reserve began winding down its stimulus programme. This tapering sent emerging markets in a tailspin.
Rard Merchant Bank said in a note this morning the market forecast that the US created 185 000 non-farm jobs after last month’s disappointing figure of 74 000.
The positive expectations stemmed from data yesterday showing new claims for US unemployment insurance, which indicate the pace of lay-offs in the economy has slowed.
On Thursday, the all share index on the JSE closed 1.4%.
The industrial index was 0.68% higher at midday. Among the sector heavyweights, SAB Miller [JSE:SAB] traded 1.07% higher at R492.37 and Richemont [JSE:RCH] 0.37% stronger at R106.30. Remgro [JSE:] improved 1.95% to R190 and Naspers [JSE:NPN] gained 1.95% to R1 146.90
Arcelor Mittal [JSE:ACL] reported a R524m turn-around in profit from operations from a loss of R477m in the first half of the previous year to a profit of R47m in the first half of this year.
The share price was initially sharply lower, but it recovered almost all its losses by midday and by 13:43 the share traded 3.1% higher at R43.90.
Harmony Gold Mining [JSE:HAR] said on Friday that take place no blasting would across all its mines for the next 24 hours as all operations had embarked on safety shifts. The decision follows an accident at its Doornkop operations that claimed the lives of eight workers. Another is still missing.
The share price fell with 2.79% to R28.94.
- Fin24
Almost all the major indices on the JSE were higher by midday, after most Asian markets strengthened this morning after a positive close at Wall Street overnight.
The all share index traded above the 45 000 level this morning and was 0.48% higher at 45 203. The Top 40-index was also well above the 40 000 level and traded at 40 658, after it strengthened 0.48%.
Expectations are that the critical US non-farm payroll due later today will show further growth in the number of public and private sector jobs created in the world’s largest economy.
The payroll numbers, which indicate the strength of the American economy, have taken on huge significance since the Federal Reserve began winding down its stimulus programme. This tapering sent emerging markets in a tailspin.
Rard Merchant Bank said in a note this morning the market forecast that the US created 185 000 non-farm jobs after last month’s disappointing figure of 74 000.
The positive expectations stemmed from data yesterday showing new claims for US unemployment insurance, which indicate the pace of lay-offs in the economy has slowed.
On Thursday, the all share index on the JSE closed 1.4%.
The industrial index was 0.68% higher at midday. Among the sector heavyweights, SAB Miller [JSE:SAB] traded 1.07% higher at R492.37 and Richemont [JSE:RCH] 0.37% stronger at R106.30. Remgro [JSE:] improved 1.95% to R190 and Naspers [JSE:NPN] gained 1.95% to R1 146.90
Arcelor Mittal [JSE:ACL] reported a R524m turn-around in profit from operations from a loss of R477m in the first half of the previous year to a profit of R47m in the first half of this year.
The share price was initially sharply lower, but it recovered almost all its losses by midday and by 13:43 the share traded 3.1% higher at R43.90.
Harmony Gold Mining [JSE:HAR] said on Friday that take place no blasting would across all its mines for the next 24 hours as all operations had embarked on safety shifts. The decision follows an accident at its Doornkop operations that claimed the lives of eight workers. Another is still missing.
The share price fell with 2.79% to R28.94.
- Fin24
