Johannesburg - The JSE was higher on Wednesday morning in
line with eastern markets.
A local trader said: "It's been a very quiet start so
far with little volume traded so far".
He said investors would look to Europe for further direction
throughout the day. Mortgage application numbers and consumer credit data from
the US might also have an influence on markets later in the day.
At 09:18 local time, the All Share [JSE:J203] index was up
0.61%. Gold shares led the gains up 2.02%, resources increased 0.88% and platinum
rose 0.59%.
Industrials were 0.51% higher, financials lifted 0.23%, and
banks edged up 0.16%.
The rand was bid at R7.96 to the dollar, from R8.05 at the
JSE's close on Tuesday. Gold traded at $1 731.03 a troy ounce from $1 708.16/oz
at the JSE's previous close, while platinum was quoted at $1 532.70/oz, from $1
03.50/oz at the previous close.
Dow Jones Newswires reported that Asian stock markets rose
on Wednesday amid cautious optimism that eurozone leaders would deliver a
comprehensive plan to contain the bloc's sovereign debt crisis, while
stronger-than-expected third-quarter growth in Australia supported the Sydney
market.
The regional mood was helped by a Financial Times report
that European Union officials are discussing plans to possibly implement two
separate bailout funds to tackle the debt woes, though few investors were
willing to take large positions before an EU summit at the weekend.
Pinning their hopes on the summit, investors are likely to bid shares slightly higher to start on Wednesday.