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Johannesburg - The JSE was holding steady in positive territory at noon on Friday as investors eyed Europe for more news.
A local trader said that there was a bit of a slowdown during the morning but the market was currently holding firm.
"Eyes are on the next bond auction in Europe. Investors will be looking out for how that will go. Otherwise there's not much news out."
At noon local time, the JSE All Share [JSE:J203] index had gained 0.31%. Resources lifted 0.60%, platinum shares edged up 0.11% while gold stocks shifted into flat territory (0.08%).
Financials took up 0.39%, banks generated 0.27%, while industrials were static (0.05%).
The rand was bid at 8.04 to the dollar from 8.03 at the JSE's close on Thursday. Gold traded at US$1,643.94 a troy ounce from US$1,662.11 at the JSE's previous close, while platinum was quoted at US$1,488.77/oz, from US$1,501.50/oz at the previous close.
Dow Jones Newswires reported that European stocks rose on Friday amid optimism over the upcoming Italian bond auction.
At noon local time, London's FTSE 100 Index increased 0.22% and Paris's CAC-40 was 0.64% higher.
Sentiment toward the eurozone improved following well-received debt auctions by Italy and Spain on Thursday. As a result, cyclicals, whose performance is strongly tied to the overall economy, put in the strongest performance.
Italy is planning to auction up to EUR4.75 billion in five-year bonds.
The mood may have been cheery, but UBS turned more cautious about the prospects for European equities on Friday, cutting its 2012 target for the Stoxx Europe 600 to 250 from 260 and its target for the FTSE 100 to 5,800 from 6,100. It noted that European equities were up 9% from mid-December and over 20% from the summer, in part due to the market pricing out a US recession.
In Asia, stock markets ended mostly higher on Friday due to news of the successful debt auctions in Europe.
The positive headlines out of Europe overshadowed a tepid rise in US retail sales for December and a larger-than-expected gain in weekly jobless claims. They helped US stocks end slightly higher on Thursday.
Japan's Nikkei 225 rose 1.36%, and Hong Kong's Hang Seng Index gained 0.57%.
A local trader said that there was a bit of a slowdown during the morning but the market was currently holding firm.
"Eyes are on the next bond auction in Europe. Investors will be looking out for how that will go. Otherwise there's not much news out."
At noon local time, the JSE All Share [JSE:J203] index had gained 0.31%. Resources lifted 0.60%, platinum shares edged up 0.11% while gold stocks shifted into flat territory (0.08%).
Financials took up 0.39%, banks generated 0.27%, while industrials were static (0.05%).
The rand was bid at 8.04 to the dollar from 8.03 at the JSE's close on Thursday. Gold traded at US$1,643.94 a troy ounce from US$1,662.11 at the JSE's previous close, while platinum was quoted at US$1,488.77/oz, from US$1,501.50/oz at the previous close.
Dow Jones Newswires reported that European stocks rose on Friday amid optimism over the upcoming Italian bond auction.
At noon local time, London's FTSE 100 Index increased 0.22% and Paris's CAC-40 was 0.64% higher.
Sentiment toward the eurozone improved following well-received debt auctions by Italy and Spain on Thursday. As a result, cyclicals, whose performance is strongly tied to the overall economy, put in the strongest performance.
Italy is planning to auction up to EUR4.75 billion in five-year bonds.
The mood may have been cheery, but UBS turned more cautious about the prospects for European equities on Friday, cutting its 2012 target for the Stoxx Europe 600 to 250 from 260 and its target for the FTSE 100 to 5,800 from 6,100. It noted that European equities were up 9% from mid-December and over 20% from the summer, in part due to the market pricing out a US recession.
In Asia, stock markets ended mostly higher on Friday due to news of the successful debt auctions in Europe.
The positive headlines out of Europe overshadowed a tepid rise in US retail sales for December and a larger-than-expected gain in weekly jobless claims. They helped US stocks end slightly higher on Thursday.
Japan's Nikkei 225 rose 1.36%, and Hong Kong's Hang Seng Index gained 0.57%.
