Johannesburg - The JSE opened firmer on Monday, tracking
global markets, and analysts expect the local bourse to continue taking its cue
from US and Asian markets.
At 09:10 local time, the JSE All Share [JSE:J203] index was
up 0.64% to 34,618.15 points, with resources gaining 1.50%, while platinum
shares increased by 0.12% and gold counters were up 0.88%.
Financials lifted 0.12%, banking stocks were up 0.13% and
industrials garnered 0.27%.
The rand was a touch firmer at R7.7267 from previous close
of R7.7283 on Monday.
Gold was quoted at $1 655.65 a troy ounce from $1 662/oz at
the JSE's previous close, while platinum was at $1 567.50/oz, from $1 574/oz at
the previous session.
"We started off nicely on the upside following
international markets. I expect the JSE to play catch up most of the time
following the US and Asian markets," a local trader said.
Asian stock markets advanced on Wednesday, as Chinese
investors reacted to manufacturing data and a move to cut trading costs, while
a weaker yen helped Japan's market, media reports said.
US stocks ended higher on Tuesday as the Dow Jones
Industrial Average rose 66 points to 13,279, the Standard & Poor's
500-stock index added 7.9 points to 1,406, and the Nasdaq Composite gained 4.1
points to 3,050.