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Johannesburg - The JSE pared some of its gains at
noon on Thursday, as leading European benchmark stock market indices
lost ground, in volatile trade.
At 12:03 local time, the JSE All Share [JSE:J203] index was up 0.37% to 33 558.29 points, with resources gaining 0.62%, platinum miners edging up 0.26% and gold counters climbing 0.70%.
Financials rose 0.51%, banking stocks rose 0.29% and industrials lifted 0.17%.
The rand weakened to 8.04 to the US dollar, from 8.02 at the JSE's close on Wednesday, while gold was quoted at $1 586.83 a troy ounce from $1 587.37/oz at the JSE's previous close and platinum slipped to $1 487.50/oz, from $1 489.70/oz at the previous session.
"It is a relief rally from the massive onslaught we have seen in the last couple of sessions," said Kobus Nell, portfolio manager at Stanlib. "From the pure macro-economic viewpoint, there is no real information that is supportive of this bounce. Therefore, I wouldn't be surprised to see weakness coming through."
European stock markets traded cautiously as investors digested news that the European Financial Stability Facility would disburse funding to Greece, and Spain's move to rescue troubled lender Bankia, Dow Jones Newswires reported.
UK's FTSE 100 index was down 0.49% to 5 502.82 points at about noon local time.
Asian markets ended mostly lower after disappointing China trade data, with the Nikkei losing 0.39% while the China Shanghai SE Composite closed flat.
Economic data from China showed weak growth in April's imports, reflecting a sluggish performance in the world's second-biggest economy. The report showed a 4.9% increase in exports and 0.3% increase in imports, both of which failed to meet economists' expectations.
US stock-index futures pointed to a weaker start for Wall Street on continued worries over Spain and Greece.
At 12:03 local time, the JSE All Share [JSE:J203] index was up 0.37% to 33 558.29 points, with resources gaining 0.62%, platinum miners edging up 0.26% and gold counters climbing 0.70%.
Financials rose 0.51%, banking stocks rose 0.29% and industrials lifted 0.17%.
The rand weakened to 8.04 to the US dollar, from 8.02 at the JSE's close on Wednesday, while gold was quoted at $1 586.83 a troy ounce from $1 587.37/oz at the JSE's previous close and platinum slipped to $1 487.50/oz, from $1 489.70/oz at the previous session.
"It is a relief rally from the massive onslaught we have seen in the last couple of sessions," said Kobus Nell, portfolio manager at Stanlib. "From the pure macro-economic viewpoint, there is no real information that is supportive of this bounce. Therefore, I wouldn't be surprised to see weakness coming through."
European stock markets traded cautiously as investors digested news that the European Financial Stability Facility would disburse funding to Greece, and Spain's move to rescue troubled lender Bankia, Dow Jones Newswires reported.
UK's FTSE 100 index was down 0.49% to 5 502.82 points at about noon local time.
Asian markets ended mostly lower after disappointing China trade data, with the Nikkei losing 0.39% while the China Shanghai SE Composite closed flat.
Economic data from China showed weak growth in April's imports, reflecting a sluggish performance in the world's second-biggest economy. The report showed a 4.9% increase in exports and 0.3% increase in imports, both of which failed to meet economists' expectations.
US stock-index futures pointed to a weaker start for Wall Street on continued worries over Spain and Greece.
