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Johannesburg - The JSE hovered near its record level at noon on Monday, lifted higher by the geopolitical developments in Egypt and improved sentiments in stock exchanges across the world. But there has been some profit-taking in gold and platinum counters following the solid gains in recent session, a futures trader said.
The benchmark index hit a record level of 33 335.55 at 10:16 local time, the futures trader said.
Its previous record was 33 309.82, reached on May 22 2008.
By 12:09, the JSE all-share index was up 0.37%, with resources firming 0.48%. But gold counters fell 1.29% and platinum miners lost 0.71%.
Industrials firmed 0.60%, but banks shed 0.59% and financials lost 0.23%.
The rand was trading at 7.28 to the dollar from 7.29 at the JSE's close on Friday. Gold was quoted at US$1 358.21 a troy ounce from US$1 364.24/oz at the JSE's previous close, while platinum was at $1 824.50/oz from $1 830.50 before.
The futures trader also said he expected the all-share index to pull back a bit, but noted that fundamentally the market was likely to remain firm.
Dow Jones Newswires has reported that European stocks rose on Monday, with basic resources leading the advance, as investors welcomed the end of the political standoff in Egypt.
The Stoxx Europe 600 resources index added 1.1% to 651.80 amid rising base-metal prices, supported by upbeat Chinese trade data, which showed robust economic activity within the country, as well as higher imported commodity prices.
A surge in Chinese copper imports, which reached a four-month high in January, also helped to underpin the resources sector. Figures showed China imported 364 240 metric tons of copper, copper alloy and semi-finished products in January, an increase of 5.7% from last December and a 25% rise from the same month a year earlier.
By 09:05 GMT, the Stoxx Europe 600 index was up 0.5% at 289.47. London's FTSE 100 rose 0.1% to 6 070.11, Frankfurt's DAX added 0.4% to 7 402.72 and Paris's CAC-40 was 0.2% higher at 4 110.80.
Asian shares ended higher on Monday as weak economic data from Japan, and some disappointing earnings news in Australia, were offset by relief over Friday's resignation of President Hosni Mubarak and the positive Chinese trade data.
The benchmark index hit a record level of 33 335.55 at 10:16 local time, the futures trader said.
Its previous record was 33 309.82, reached on May 22 2008.
By 12:09, the JSE all-share index was up 0.37%, with resources firming 0.48%. But gold counters fell 1.29% and platinum miners lost 0.71%.
Industrials firmed 0.60%, but banks shed 0.59% and financials lost 0.23%.
The rand was trading at 7.28 to the dollar from 7.29 at the JSE's close on Friday. Gold was quoted at US$1 358.21 a troy ounce from US$1 364.24/oz at the JSE's previous close, while platinum was at $1 824.50/oz from $1 830.50 before.
The futures trader also said he expected the all-share index to pull back a bit, but noted that fundamentally the market was likely to remain firm.
Dow Jones Newswires has reported that European stocks rose on Monday, with basic resources leading the advance, as investors welcomed the end of the political standoff in Egypt.
The Stoxx Europe 600 resources index added 1.1% to 651.80 amid rising base-metal prices, supported by upbeat Chinese trade data, which showed robust economic activity within the country, as well as higher imported commodity prices.
A surge in Chinese copper imports, which reached a four-month high in January, also helped to underpin the resources sector. Figures showed China imported 364 240 metric tons of copper, copper alloy and semi-finished products in January, an increase of 5.7% from last December and a 25% rise from the same month a year earlier.
By 09:05 GMT, the Stoxx Europe 600 index was up 0.5% at 289.47. London's FTSE 100 rose 0.1% to 6 070.11, Frankfurt's DAX added 0.4% to 7 402.72 and Paris's CAC-40 was 0.2% higher at 4 110.80.
Asian shares ended higher on Monday as weak economic data from Japan, and some disappointing earnings news in Australia, were offset by relief over Friday's resignation of President Hosni Mubarak and the positive Chinese trade data.
