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Johannesburg, Dec 22 (I-Net Bridge) - The JSE remained in the black at
midday on Thursday - the last full day of trade before Christmas. The
JSE is only trading tomorrow morning, with the market closing at midday.
With very little corporate news to move the market today, traders were squaring positions before the holidays. With the Dow futures some 70 points higher and European markets looking firm, sentiment was positive, a local trader said.
At noon local time, the JSE all-share index was up 0.57%, boosted by a 0.87% rise in platinum miners and a 0.51% jump in resources. However, gold miners declined 0.44%.
Banks rose 0.47%, financials advanced 0.42% and industrial counters gained 0.61%.
The rand was bid at 8.18 to the dollar from 8.24 at the JSE's close on Wednesday. Gold traded at US$1,615.65 a troy ounce from US$1,611.35/oz at the JSE's previous close, while platinum was quoted at US$1,432.50/oz, from US$1,426/oz at the previous close.
Dow Jones Newswires reported that Asian stock markets ended mostly lower on Thursday amid expectations that the European Central Bank's massive lending to eurozone banks will not solve the region's debt crisis.
Investor caution ahead of the year-end continued to affect trading volumes across most of the region.
Australia's S&P/ASX 200 index shed 1.2% to 4,090.80, China's Shanghai Composite declined 0.2% to 2,186.30, Hong Kong's Hang Seng Index fell 0.2% to 18,378.23, South Korea's Kospi slipped 0.1% to 1,847.49 and Taiwan's Taiex ended flat at 6,966.35.
Japan's Nikkei Stock Average closed 0.8% lower at 8,395.16, heading into a three-day weekend.
However, European markets fared better, with the FTSE100 last up 1.15%.
The trader noted that yesterday the JSE had lost ground, against the global trend, and now that was looking a bit overdone.
He added the market was awaiting some key data from the US in the form of the final GDP, final consumer spending, initial jobless claims and the leading indicators index.
He noted that there was good interest in most sectors at the lower levels and that was pushing the market firmer, albeit in thin volumes.
"We may yet get a present from Santa - in the form of a year-end rally," he quipped.
"I am encouraged in what I am seeing from a technical point of view with regard to the Dow and the FTSE. There is a bit more of a positive feel, with the good figures coming out of the US and the attempts to recapitalise the banks in the eurozone," he added.
With very little corporate news to move the market today, traders were squaring positions before the holidays. With the Dow futures some 70 points higher and European markets looking firm, sentiment was positive, a local trader said.
At noon local time, the JSE all-share index was up 0.57%, boosted by a 0.87% rise in platinum miners and a 0.51% jump in resources. However, gold miners declined 0.44%.
Banks rose 0.47%, financials advanced 0.42% and industrial counters gained 0.61%.
The rand was bid at 8.18 to the dollar from 8.24 at the JSE's close on Wednesday. Gold traded at US$1,615.65 a troy ounce from US$1,611.35/oz at the JSE's previous close, while platinum was quoted at US$1,432.50/oz, from US$1,426/oz at the previous close.
Dow Jones Newswires reported that Asian stock markets ended mostly lower on Thursday amid expectations that the European Central Bank's massive lending to eurozone banks will not solve the region's debt crisis.
Investor caution ahead of the year-end continued to affect trading volumes across most of the region.
Australia's S&P/ASX 200 index shed 1.2% to 4,090.80, China's Shanghai Composite declined 0.2% to 2,186.30, Hong Kong's Hang Seng Index fell 0.2% to 18,378.23, South Korea's Kospi slipped 0.1% to 1,847.49 and Taiwan's Taiex ended flat at 6,966.35.
Japan's Nikkei Stock Average closed 0.8% lower at 8,395.16, heading into a three-day weekend.
However, European markets fared better, with the FTSE100 last up 1.15%.
The trader noted that yesterday the JSE had lost ground, against the global trend, and now that was looking a bit overdone.
He added the market was awaiting some key data from the US in the form of the final GDP, final consumer spending, initial jobless claims and the leading indicators index.
He noted that there was good interest in most sectors at the lower levels and that was pushing the market firmer, albeit in thin volumes.
"We may yet get a present from Santa - in the form of a year-end rally," he quipped.
"I am encouraged in what I am seeing from a technical point of view with regard to the Dow and the FTSE. There is a bit more of a positive feel, with the good figures coming out of the US and the attempts to recapitalise the banks in the eurozone," he added.
