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Johannesburg - The JSE was up at noon on Tuesday, with the local market rising on the back of improved European sentiment.
A local trader said: "Talks in Europe pointing towards bailout aid for Greece have made markets a little bit happier."
He said that the news seemed to be outweighing Italy's downgrade, which the global markets seem to be shrugging off.
"Other than that, it seems there's still a bit of bargain buying coming in."
By 12:02 local time, the JSE All Share [JSE:JSE:J203] index had lifted 0.77%. Resources were up 1.11%, platinum miners collected 1.18%, while gold was fairly flat (-0.04%).
Industrials generated 0.58%, banks took up 0.50% and financials moved up 0.47%.
The rand was bit at R7.62 to the dollar, from R7.69 at the JSE's close on Monday. Gold traded at $1 793.46 a troy ounce from $1 785.39 at the JSE's previous close, while platinum was at $1 784/oz, from $1 770/oz previously.
Dow Jones Newswires reported European stock markets edged higher on Tuesday, shrugging off Standard & Poor's overnight downgrade of Italy's credit rating. Instead, investors picked up recently battered stocks ahead of the second leg of Greek aid talks with international lenders later in the global day.
At noon local time, London's FTSE 100 was up 1.48%, and the CAC-40 in Paris was 1.19% higher.
Turning to Greece, the second leg of the discussion with the troika - the International Monetary Fund, European Commission and European Central Bank - is scheduled for 17:00 GMT, Tuesday. Most likely, the negotiations will result in further front-loading of fiscal measures voted at the June medium-term plan aiming to calm the IMF's objections and secure that Greece will meet its 7.6% budget deficit for this year, said Lloyds.
Also helping the market was mounting expectations for some help by the Federal Reserve at Wednesday's policy meeting. "Although the market is not expecting another round of quantitative easing, if the Fed fails to implement measures to further stimulate the US economy, asset prices could retreat fairly sharply," said Manoj Ladwa, a trader at ETX Capital.
A local trader said: "Talks in Europe pointing towards bailout aid for Greece have made markets a little bit happier."
He said that the news seemed to be outweighing Italy's downgrade, which the global markets seem to be shrugging off.
"Other than that, it seems there's still a bit of bargain buying coming in."
By 12:02 local time, the JSE All Share [JSE:JSE:J203] index had lifted 0.77%. Resources were up 1.11%, platinum miners collected 1.18%, while gold was fairly flat (-0.04%).
Industrials generated 0.58%, banks took up 0.50% and financials moved up 0.47%.
The rand was bit at R7.62 to the dollar, from R7.69 at the JSE's close on Monday. Gold traded at $1 793.46 a troy ounce from $1 785.39 at the JSE's previous close, while platinum was at $1 784/oz, from $1 770/oz previously.
Dow Jones Newswires reported European stock markets edged higher on Tuesday, shrugging off Standard & Poor's overnight downgrade of Italy's credit rating. Instead, investors picked up recently battered stocks ahead of the second leg of Greek aid talks with international lenders later in the global day.
At noon local time, London's FTSE 100 was up 1.48%, and the CAC-40 in Paris was 1.19% higher.
Turning to Greece, the second leg of the discussion with the troika - the International Monetary Fund, European Commission and European Central Bank - is scheduled for 17:00 GMT, Tuesday. Most likely, the negotiations will result in further front-loading of fiscal measures voted at the June medium-term plan aiming to calm the IMF's objections and secure that Greece will meet its 7.6% budget deficit for this year, said Lloyds.
Also helping the market was mounting expectations for some help by the Federal Reserve at Wednesday's policy meeting. "Although the market is not expecting another round of quantitative easing, if the Fed fails to implement measures to further stimulate the US economy, asset prices could retreat fairly sharply," said Manoj Ladwa, a trader at ETX Capital.
