Johannesburg - The JSE tracked international stocks and closed firmer on Tuesday.
At 17:00 local time, the JSE All Share [JSE:J203]
index was up 0.35% at
33 777.97 points, with industrials gaining 0.51%, banks rose 0.39%, and
financials added 0.38%.
Resources were 0.13% higher. Gold miners, however declined 1.62%, while platinum miners were flat (-0.03%).
The rand was trading at 7.79 to the US dollar, from 7.96 at
the JSE's close on Monday. Gold was quoted at $1 649.04 a troy ounce
from $1 650.35/oz at the JSE's previous close, while platinum was at
$1 575/oz, from $1 573.20/oz at the previous session.
Overseas markets were strong, including European and US
markets, a local trader said. Gold shares were struggling, while some of
the resources were picking up and recovering from recent lows, the
US stocks advanced as easing concerns about Spain's borrowing
costs offset flat readings on domestic industrial output and a mixed
report from the housing market, Dow Jones Newswires reported.
The Dow Jones Industrial Average climbed 140 points, or 1.1%,
to 13,060 in morning trading. The Standard & Poor's 500-stock index
gained 14 points, or 1%, to 1,384, and the Nasdaq Composite rose 38
points, or 1.3%, to 3,026.
Tuesday's earnings calendar was heavy with quarterly earnings
reports from US blue-chips, and energy and industrial stocks led the
Coca-Cola, up 2.5%, led the Dow's advance after the beverage
giant reported first-quarter earnings and revenue that exceeded
expectations, as both volumes and price gains bolstered results.
Muted economic reports didn't restrain Tuesday's stock gains.
Before the opening bell, data showed US home construction fell 5.8% in
March, the second straight monthly decline. The reading was well below
expectations for a 0.7% increase. Meanwhile, the number of new housing
permits rose 4.5% last month, and reached their highest level since
September 2008. Economists had forecast a modest decline.