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Johannesburg - The JSE closed firmer on Wednesday with resources leading the upside recovering from Tuesday’s fall and buoyed by better Chinese economic data out this morning.
The Chinese HSBC flash manufacturing purchasing managers’ index increased to 49.1 in October from 47.9 in September‚ which may indicate that China has seen the worst of the contraction in their manufacturing sector.
At 17:00‚ the JSE All Share [JSE:J203] index was up 0.75% at 36 951.53 points‚ with resources gaining 1.13% and the platinum index rising 1.52%.
European markets traded a bit higher with the London FTSE 100 last seen 0.26% stronger while the Dow Jones Industrial index was up 0.35% at 16:50 local time.
“Our local market increase is a bit overdone‚ because the US market is not up by much and we are up quite a bit more than the FTSE is‚” said Reuben Beelders‚ portfolio manager at Gryphon Asset Management in Cape Town.
Among local shares that showed movement were Anglo American up 1.52% at R264.52 and BHP Billiton adding 1.54% to R280.89‚ while Sasol dipped 0.27% to R368.00.
Among miners‚ Lonmin added 3.22% to R70.48 and Northam Platinum gained 1.43% to R31.30. Harmony was up 2.60% to R70.65.
Mr Price jumped 2.94% to R131.25 and Naspers rose 2.74% to R558.43.
