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Johannesburg - The JSE closed up with Friday's
trade following the US and European markets' positive performance.
A local trader said that he was a little surprised by the JSE's performance however he mentioned that chatter from Europe may have set the positive tone.
"There is talk that interest rates may be decreased in Europe. I think that's the big influence today."
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.94% to 31 123.59 points, with resources 2.17% higher, platinum miners taking up 1.67% and gold firming up 0.43%. Industrials lifted 0.39%, however financials and banks were flat at (0.02) and (-0.05) respectively.
The rand was trading at 7.85 to the dollar, from 7.90 at the JSE's close on Thursday. Gold traded at $1 671.60 a troy ounce from $1 662.03/oz at the JSE's previous close, while platinum was at $1 551.70/oz, from $1 532.70/oz previously.
The trader said that Google results had come out strong and it seemed as though technology stocks in the US were supporting that market.
He said that locally, "The market is looking strong. I suspect we'll see some selling at the beginning of next week."
Dow Jones Newswires reported that US stocks rose in early Friday trading, sending the Dow Jones Industrial Average and the Nasdaq Composite back into positive territory for the year, as a stronger reading on consumer spending and stellar results from Google boosted sentiment.
The Dow Jones Industrial Average had lifted 0.86% at the time of the JSE's close.
US stock futures added to early premarket gains after data showed retail sales rose more than expected in September. Americans spent more on cars, clothing and fuel, an indication that consumers remain willing to shop despite high unemployment and the weak economic recovery. The gains were broad-based, showing up in restaurants, furniture and department stores, among others.
Google jumped 6.9% after the online search giant reported third-quarter earnings that beat expectations by a wide margin. Revenue also topped forecasts as online ad sales accelerated.
In overseas markets, Europe shrugged off early struggles to move broadly higher. Optimism over a weekend meeting of the finance officials from the world's leading economies and encouraging outlooks by technology giants Ericsson and SAP helped offset Standard & Poor's one-notch downgrade of Spain and Fitch Ratings' move to downgrade UBS and put several other banks on negative watch.
Some of the finance officials meeting in Paris are considering boosting the International Monetary Fund's lending capacity so it can help with the eurozone's debt crisis.
A local trader said that he was a little surprised by the JSE's performance however he mentioned that chatter from Europe may have set the positive tone.
"There is talk that interest rates may be decreased in Europe. I think that's the big influence today."
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.94% to 31 123.59 points, with resources 2.17% higher, platinum miners taking up 1.67% and gold firming up 0.43%. Industrials lifted 0.39%, however financials and banks were flat at (0.02) and (-0.05) respectively.
The rand was trading at 7.85 to the dollar, from 7.90 at the JSE's close on Thursday. Gold traded at $1 671.60 a troy ounce from $1 662.03/oz at the JSE's previous close, while platinum was at $1 551.70/oz, from $1 532.70/oz previously.
The trader said that Google results had come out strong and it seemed as though technology stocks in the US were supporting that market.
He said that locally, "The market is looking strong. I suspect we'll see some selling at the beginning of next week."
Dow Jones Newswires reported that US stocks rose in early Friday trading, sending the Dow Jones Industrial Average and the Nasdaq Composite back into positive territory for the year, as a stronger reading on consumer spending and stellar results from Google boosted sentiment.
The Dow Jones Industrial Average had lifted 0.86% at the time of the JSE's close.
US stock futures added to early premarket gains after data showed retail sales rose more than expected in September. Americans spent more on cars, clothing and fuel, an indication that consumers remain willing to shop despite high unemployment and the weak economic recovery. The gains were broad-based, showing up in restaurants, furniture and department stores, among others.
Google jumped 6.9% after the online search giant reported third-quarter earnings that beat expectations by a wide margin. Revenue also topped forecasts as online ad sales accelerated.
In overseas markets, Europe shrugged off early struggles to move broadly higher. Optimism over a weekend meeting of the finance officials from the world's leading economies and encouraging outlooks by technology giants Ericsson and SAP helped offset Standard & Poor's one-notch downgrade of Spain and Fitch Ratings' move to downgrade UBS and put several other banks on negative watch.
Some of the finance officials meeting in Paris are considering boosting the International Monetary Fund's lending capacity so it can help with the eurozone's debt crisis.
