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Johannesburg - The JSE edged up in morning trade on Monday, picking up from where it left off on Friday as local investors tracked international developments.
Banks seemed to be experiencing profit taking, following a strong run on Friday. A trader said the rand remained stable, while metal prices were stronger.
By 09:17 local time, the JSE all share index was up 0.59%, with platinum miners rising 0.70% and resources firming 0.82%. But gold counters fell 0.65%. Industrials added 0.59%, while banks (-0.07%) and financials (0.01%) were flat.
The rand was trading at R7.23 to the dollar from R7.29 at the JSE's close on Friday. Gold was quoted at $1 359.40 a troy ounce from $1 364.24/oz at the JSE's previous close, while platinum was at $1 825.50/oz from $1 830.50 before.
A trader said: "The market is tracking international markets. The Dow Jones industrial average on Friday and US futures this morning are stronger. Asian markets are firmer as well."
Dow Jones Newswires reported that Asian shares rose on Monday as weak economic data in Japan and some disappointing earnings news in Australia were offset by relief over Friday's resignation of Egyptian President Hosni Mubarak.
In China, robust trade data signalled still-strong economic activity as the market there rose ahead of a crucial inflation report on Tuesday.
Japan's Nikkei Stock Average was 0.9% higher, Australia's S&P/ASX 200 was up 1.1% at 4 931.7, and South Korea's Kospi Composite added 1.7%. Hong Kong's Hang Seng Index rose 1.1%, Taiwan's main index was 1.1% higher, and the Shanghai Composite index was up 1.8%.
Dow Jones Industrial Average futures were up four points in screen trade.
There was also cautious optimism on Friday's news of Mubarak's dramatic exit from power, which came less than 24 hours after Mubarak defied domestic and international pressure to step down.
Many market watchers said the situation in the Middle East remained somewhat uncertain until clarity emerged on the post-Mubarak leadership structure.
Banks seemed to be experiencing profit taking, following a strong run on Friday. A trader said the rand remained stable, while metal prices were stronger.
By 09:17 local time, the JSE all share index was up 0.59%, with platinum miners rising 0.70% and resources firming 0.82%. But gold counters fell 0.65%. Industrials added 0.59%, while banks (-0.07%) and financials (0.01%) were flat.
The rand was trading at R7.23 to the dollar from R7.29 at the JSE's close on Friday. Gold was quoted at $1 359.40 a troy ounce from $1 364.24/oz at the JSE's previous close, while platinum was at $1 825.50/oz from $1 830.50 before.
A trader said: "The market is tracking international markets. The Dow Jones industrial average on Friday and US futures this morning are stronger. Asian markets are firmer as well."
Dow Jones Newswires reported that Asian shares rose on Monday as weak economic data in Japan and some disappointing earnings news in Australia were offset by relief over Friday's resignation of Egyptian President Hosni Mubarak.
In China, robust trade data signalled still-strong economic activity as the market there rose ahead of a crucial inflation report on Tuesday.
Japan's Nikkei Stock Average was 0.9% higher, Australia's S&P/ASX 200 was up 1.1% at 4 931.7, and South Korea's Kospi Composite added 1.7%. Hong Kong's Hang Seng Index rose 1.1%, Taiwan's main index was 1.1% higher, and the Shanghai Composite index was up 1.8%.
Dow Jones Industrial Average futures were up four points in screen trade.
There was also cautious optimism on Friday's news of Mubarak's dramatic exit from power, which came less than 24 hours after Mubarak defied domestic and international pressure to step down.
Many market watchers said the situation in the Middle East remained somewhat uncertain until clarity emerged on the post-Mubarak leadership structure.
