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Johannesburg - The JSE started the day firmer on Thursday as resources continued to shine, picking up from where they left off yesterday. Portugal's successful bond auction yesterday added to positive market sentiments, a trader said.
But local investors seemed cautious as they waited for London markets to open to find direction, while US futures were slightly weaker, the trader said.
By 09:18 local time, the JSE all share index was 0.44% higher, with gold miners rising 0.94%, resources gaining 0.61% and platinum miners adding 0.59%. Industrials inched up 0.36%, banks firmed 0.27%, and financials were up 0.21%.
The rand was trading at R6.83 to the dollar, unchanged from the JSE's close on Wednesday. Gold was quoted at $1 386.01 a troy ounce from $1 378.87/oz at the JSE's previous close, while platinum was at $1 795.50/oz from $1 794/oz before.
"The market is still looking firmer due to stronger resources. There is good performance across the board in most resources stocks," the trader said.
Dow Jones Newswires reports that Asian stock markets were mostly higher on Thursday, as sentiment was boosted by a successful Portuguese bond auction on Wednesday, while Korean shares clung to some of their early gains after the central bank surprised the market with a rate hike.
Japan's Nikkei Stock Average was up 0.73%, and Hong Kong's Hang Seng Index rose 0.76%.
"The eurozone risk seems to be subsiding, but we still need to watch the (bond) auctions in Spain and Italy (later in the global trading day)," said Kazuhiro Takahashi, general manager at Daiwa Securities Capital Markets in Tokyo.
European stock markets are likely to pause for a mixed opening after Wednesday's relief rally over Portugal's success in selling bonds. Cautious investors are waiting for more news to shore up the improved view of the debt situation.
Dow Jones Industrial Average futures were down eight points in screen trade.
But local investors seemed cautious as they waited for London markets to open to find direction, while US futures were slightly weaker, the trader said.
By 09:18 local time, the JSE all share index was 0.44% higher, with gold miners rising 0.94%, resources gaining 0.61% and platinum miners adding 0.59%. Industrials inched up 0.36%, banks firmed 0.27%, and financials were up 0.21%.
The rand was trading at R6.83 to the dollar, unchanged from the JSE's close on Wednesday. Gold was quoted at $1 386.01 a troy ounce from $1 378.87/oz at the JSE's previous close, while platinum was at $1 795.50/oz from $1 794/oz before.
"The market is still looking firmer due to stronger resources. There is good performance across the board in most resources stocks," the trader said.
Dow Jones Newswires reports that Asian stock markets were mostly higher on Thursday, as sentiment was boosted by a successful Portuguese bond auction on Wednesday, while Korean shares clung to some of their early gains after the central bank surprised the market with a rate hike.
Japan's Nikkei Stock Average was up 0.73%, and Hong Kong's Hang Seng Index rose 0.76%.
"The eurozone risk seems to be subsiding, but we still need to watch the (bond) auctions in Spain and Italy (later in the global trading day)," said Kazuhiro Takahashi, general manager at Daiwa Securities Capital Markets in Tokyo.
European stock markets are likely to pause for a mixed opening after Wednesday's relief rally over Portugal's success in selling bonds. Cautious investors are waiting for more news to shore up the improved view of the debt situation.
Dow Jones Industrial Average futures were down eight points in screen trade.
