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Johannesburg - The JSE turned positive at noon as resource stocks once again pulled the local market up.
A local trader said: "Our bourse is very much resource driven."
He said the local direction of trade was contrasting world markets at the moment and this was on the back of positive moves from resource stocks once again.
Good manufacturing figures from the US had added to the momentum already gathered after positive Chinese data on Tuesday.
At noon local time, the JSE All Share [JSE:J203] index had risen 0.61%. Resources were up 1.07%, gold stocks gathered 0.86% and platinums took up 0.64%.
Industrials collected 0.37%, financials added 0.36% and banks acquired 0.19%.
The rand was bid at 8.06 to the dollar from 8.03 at the JSE's close on Tuesday. Gold traded at $1 606.63 a troy ounce from $1 597.62 at the JSE's previous close, while platinum was quoted at $1 431/oz, from $1 413/oz at the previous close.
Dow Jones Newswires reported earlier that European stocks were lower on Wednesday, ahead of a closely-watched German bond auction and some key data releases on both sides of the Atlantic.
At noon local time, Paris' CAC-40 had fallen 0.34% while London's FTSE 100 had lifted 0.28%.
In Asia, stock markets were mostly higher on Wednesday as sharp gains in US stocks on Tuesday and a positive bout of economic data at the start of the new year boosted investor sentiment, while higher commodities prices boosted energy and resources stocks across the region.
Japan's Nikkei Stock Average climbed 1.24% and Hong Kong's Hang Seng Index lost 0.8%.
A local trader said: "Our bourse is very much resource driven."
He said the local direction of trade was contrasting world markets at the moment and this was on the back of positive moves from resource stocks once again.
Good manufacturing figures from the US had added to the momentum already gathered after positive Chinese data on Tuesday.
At noon local time, the JSE All Share [JSE:J203] index had risen 0.61%. Resources were up 1.07%, gold stocks gathered 0.86% and platinums took up 0.64%.
Industrials collected 0.37%, financials added 0.36% and banks acquired 0.19%.
The rand was bid at 8.06 to the dollar from 8.03 at the JSE's close on Tuesday. Gold traded at $1 606.63 a troy ounce from $1 597.62 at the JSE's previous close, while platinum was quoted at $1 431/oz, from $1 413/oz at the previous close.
Dow Jones Newswires reported earlier that European stocks were lower on Wednesday, ahead of a closely-watched German bond auction and some key data releases on both sides of the Atlantic.
At noon local time, Paris' CAC-40 had fallen 0.34% while London's FTSE 100 had lifted 0.28%.
In Asia, stock markets were mostly higher on Wednesday as sharp gains in US stocks on Tuesday and a positive bout of economic data at the start of the new year boosted investor sentiment, while higher commodities prices boosted energy and resources stocks across the region.
Japan's Nikkei Stock Average climbed 1.24% and Hong Kong's Hang Seng Index lost 0.8%.
