JSE edges higher at opening

Johannesburg - The JSE opened firmer on Wednesday but eased back as European stocks fell despite the higher opening calls.

Trading is expected to be choppy on Wednesday with the US markets closed for a public holiday.

At 09:24 local time‚ the JSE All Share [JSE:J203] index  was up 0.27% to 34 078.23 points‚ with resources nudging up 0.19%‚ gold shares lifting 0.83% and platinum  counters gaining 0.31%.

Financials lifted 0.41%‚ but banking stocks were flat (0.07%) and industrials firmed 0.41%.

The rand was trading at R8.10 to the US dollar from R8.08 at the JSE's close on Tuesday‚ while gold exchanged hands at $1 614.94 a troy ounce from $1 618.60/oz at the JSE's previous close and platinum was quoted at $1 481.50/oz‚ from $1 476.50/oz previously.

"Away from the resources‚ which remain the soft spot‚ our market continues to punch above its weight‚" said Ferdi Heyneke‚ portfolio manager at Afrifocus Securities.

"Industrials and retailers‚ for instance‚ continued to push stronger with some of the counters at their record levels."

In Europe‚ London's FTSE 100 index was down 0.16%.

European equity markets closed higher for the past three sessions‚ with many commentators expecting the European Central Bank to cut its main rate and the Bank of England to extend its bond-buying programme‚ following their monthly rate-setting meetings this week‚ Dow Jones Newswires reported.

In Asia‚ stocks were mixed with Japan's Nikkei average ending the session 0.41% higher while the Hang Seng index was flat by 09:24 SA time.