Johannesburg - The JSE share market opened higher on Friday
morning with platinums in the lead‚ but gold miners weighing in quiet trade
ahead of a long weekend for South Africa markets.
“There are not too much going on at the moment after some
action yesterday. It is a mixed bag in platinums‚ with Lonmin up 7% yesterday
after the strike resolution news‚” a local trader said.
“We had a big rally in the Dow last night and this is
setting the tone a bit firmer for our market today‚ but a quiet day is
anticipated going into the long weekend‚” he added. SA markets are closed on
No major data or events are scheduled for release either
locally or abroad.
At 9.18am local time‚ the JSE All Share [JSE:J203] index was
up 0.13% at 36‚408.13 points‚ but gold miners were down 0.82% at 2‚470.88
European bourses and Asian markets traded stronger with the
FTSE last seen up 0.44%.
Absa Capital said in a morning note that this week’s
manufacturing data flow out of the US‚ Europe and China has‚ on balance‚ been
disappointing‚ which has fuelled expectations that the respective central banks
would need to continue to adopt additional stimulus measures in order to try to
reflate the global economy.
“Heightened stimulus expectations are helping to ensure that
emerging market currencies‚ equity markets and commodity prices are holding
steady in the face of an uninspiring global economic backdrop‚” the bank said.
*Follow Fin24 on Twitter, Facebook,
Google+ and Pinterest.