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Johannesburg - The JSE was firmer at noon on Thursday, with Sasol [JSE:SOL] and other resources counters contributing to much of the gains.
By 12:01 local time, the JSE all-share index was up 0.63%, with resources edging up 1.20%, platinum miners firming 1.27% and gold counters adding 0.15%. But banks fell 0.21% and financials lost 0.11%, while industrials rose 0.39%.
The rand was bid at 6.89 to the dollar, from 6.88 at the JSE's close on Wednesday. Gold was quoted at US$1 431.80 a troy ounce from US$1 438.09/oz at the JSE's previous close, while platinum was at $1 847.00/oz from $1 853/oz before.
An equity dealer said the rand was stable, boosting rand-hedge stocks. Bargain-hunting also crept in given that the market had underperformed in the past few sessions, the equity dealer said.
He said global shares helped to boost local sentiment too.
Dow Jones Newswires reported that European stocks opened higher on Thursday ahead of the monthly European Central Bank (ECB) press conference, where the ECB is expected to hint at measures to tackle inflation, and as a number of companies reported strong earnings.
But not all traders were convinced the ECB would be as hawkish as expected, with some saying the indexes could fall into the red if the central bank did not send out the right message.
The ECB needs to send a strong signal to keep off a second-round inflationary effect caused by rising energy prices, but that does not mean imminent hikes, according to Swedbank, the leading bank in Sweden, Estonia, Latvia and Lithuania.
By 09:00 GMT, the benchmark Stoxx Europe 600 index was 0.2% higher at 283.45. London's FTSE 100 index was up 0.3% at 5 932.22, Frankfurt's DAX index was 0.3% firmer at 7 203.91 and Paris's CAC-40 index was up 0.3% to 4 045.61.
ECB president Jean-Claude Trichet is expected to at least talk about rising inflationary pressures and hint at an impending rise in key rates.
By 12:01 local time, the JSE all-share index was up 0.63%, with resources edging up 1.20%, platinum miners firming 1.27% and gold counters adding 0.15%. But banks fell 0.21% and financials lost 0.11%, while industrials rose 0.39%.
The rand was bid at 6.89 to the dollar, from 6.88 at the JSE's close on Wednesday. Gold was quoted at US$1 431.80 a troy ounce from US$1 438.09/oz at the JSE's previous close, while platinum was at $1 847.00/oz from $1 853/oz before.
An equity dealer said the rand was stable, boosting rand-hedge stocks. Bargain-hunting also crept in given that the market had underperformed in the past few sessions, the equity dealer said.
He said global shares helped to boost local sentiment too.
Dow Jones Newswires reported that European stocks opened higher on Thursday ahead of the monthly European Central Bank (ECB) press conference, where the ECB is expected to hint at measures to tackle inflation, and as a number of companies reported strong earnings.
But not all traders were convinced the ECB would be as hawkish as expected, with some saying the indexes could fall into the red if the central bank did not send out the right message.
The ECB needs to send a strong signal to keep off a second-round inflationary effect caused by rising energy prices, but that does not mean imminent hikes, according to Swedbank, the leading bank in Sweden, Estonia, Latvia and Lithuania.
By 09:00 GMT, the benchmark Stoxx Europe 600 index was 0.2% higher at 283.45. London's FTSE 100 index was up 0.3% at 5 932.22, Frankfurt's DAX index was 0.3% firmer at 7 203.91 and Paris's CAC-40 index was up 0.3% to 4 045.61.
ECB president Jean-Claude Trichet is expected to at least talk about rising inflationary pressures and hint at an impending rise in key rates.
