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JSE opens higher on world stocks

Johannesburg - The JSE lifted at the start of trading on Tuesday in line with leading global stocks amid some signs of stability in the markets following last week's volatility.

At 09:22 local time the JSE All Share [JSE:J203] index was up 0.53% to 33?278.82 points with resources adding 0.91% platinum edging up 0.14% and gold counters gaining 0.51%.

Financials garnered 0.47% banking stocks lifted 0.49% and industrials were up 0.34%.

The rand was trading at R8.31 to the US dollar from R8.34 at the JSE's close on Monday while gold was quoted at $1 578.27 a troy ounce from $1 575.13/oz at the JSE's previous close and platinum was at $1 435.50/oz from $1 438.00/oz at the previous session.

"We continue to see some recovery from last week's selloff although I expect trading to be fairly range-bound until the release of major data points this week which include the US unemployment report" said Hennie Fourie stockbroker at PSG Konsult.

Asian stock markets were higher on Tuesday as investors bought recently beaten-down stocks while Shanghai and Hong Kong got a lift on hopes that Beijing would roll out fresh stimulus measures to raise domestic demand, Dow Jones Newswires reported.

Japan's Nikkei was up 0.74% and Hong Kong's Hang Seng Index gained 1.16%.

But rising concerns over Spain's banking and fiscal situation capped demand.

A report from the state-run Shanghai Securities News that Beijing would introduce measures to jumpstart demand for automobiles appeared to liven up trade in China and Hong Kong.

Traders have recently been speculating about fresh easing steps and stimulus measures from Beijing to arrest faltering growth in the world's second biggest economy.

European markets were similarly firmer at the open with the UK's FTSE adding 0.82% by 09:07 local time.

 
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Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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