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JSE strengthens on renewed optimism

Jan 07 2013 10:21 I-Net Bridge


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Johannesburg – The JSE strengthened on Monday morning on renewed confidence and expectation of stability in SA.

“Confidence has also seen improving as we enter 2013‚” Absa Capital said in a note on Monday.
 
“The ruling party’s elective conference proved to be successful when judged against a backdrop of the negative expectations leading up to the conference. The incumbent president was reinstated‚ providing continuity alongside strong support shown for the National Development Plan‚ which we regard as positive‚” the bank said.

At 9:14‚ the All Share [JSE:J203] index was 0.07% stronger at 40 304.77 points as gold miners added 0.73% and platinum miners gained 0.62%.

“In terms of strike action‚ the new year got off to a rather sombre note‚ with farm workers in the Western Cape threatening protest action this week and gold miner harmony keeping its doors shut last week to reassess its financial position after the strikes of 2012‚” Absa Capital said.

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