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Johannesburg - The JSE opened slightly higher on Friday morning in line with the trend on international markets‚ with gains in resources and financials being tempered by losses on the platinum index.
At 9:22am the JSE was 0.34% higher at 40‚473.44‚ with resources gaining 0.56% and the financial index adding 0.42%. Platinum counters were under pressure in early trade‚ giving up 0.78%.
Spot gold gained 0.21% to $1 459.59/oz and platinum was up 0.50% to $1 510.50%/oz.
In Europe‚ the Paris CAC 40 Index gained 0.51% while across the channel the FTSE 100 was up 0.29%.
Among individual platinum miners‚ Anglo Platinum [JSE:AMS] lost 1.20% to R340.87 while Impala Platinum Holdings [JSE:IMP] and Lonmin [JSE:LON] lost 1.11% to R114.27 and 0.60% to R41.50 respectively.
ArcelorMittal South Africa [JSE:ACL] was up 1.76% to R26.00 despite reporting a headline loss of 67 cents a share in the quarter ended March 2013 compared with headline earnings of 71 cents for the same period a year ago. Its revenue was down 15% after a fire at the Vanderbijlpark steel plant in February.
Although the company reported a loss‚ poor results were expected as the SA steel industry had been under pressure in recent months due to a lack of demand from the construction sector.
