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Johannesburg - The JSE opened firm on Wednesday on the back of stronger commodities, which have been boosted by overnight dollar weakness.
By 09:14 local time, the JSE all share index was 0.42% higher, with resources adding 0.91%. Gold miners were up 0.66%, while industrials gained 0.27%.
Banks lost 0.35%, and financials were down 0.15%. Platinum miners gave up 0.15%.
The rand was trading at R6.83 to the dollar from R6.85 at the JSE's close on Tuesday. Gold was quoted at $1 385.12 a troy ounce from $1 375.36/oz at the JSE's previous close, while platinum was at $1 768/oz from $1 758/oz before.
"For markets today, it is more about Europe. The risk around Europe seems to have dissipated a bit overnight, leading to dollar weakness and stronger commodities," said Reid Warren Saevitzon, a local trader at Imara SP.
Dow Jones Newswires reports that Asian stock markets were higher on Wednesday, after Wall Street's rise on Tuesday, but investors remained cautious ahead of European bond auctions this week.
Japan's Nikkei Stock Average was up 0.5%, Australia's S&P/ASX 200 was 0.2% higher, and South Korea's Kospi Composite rose 0.2%. Hong Kong's Hang Seng Index was up 0.9%, Taiwan's main index rose 0.6%, and the Shanghai Composite index was 0.1% higher.
Dow Jones Industrial Average futures were up 10 points in screen trade.
The index ended Tuesday 0.3% higher, for its first gain in four sessions. It would probably have risen more if not for caution ahead of an expected snowstorm in New York.
While the rise in New York stocks was helping Tokyo shares higher, Kenichi Hirano, operating officer at Tachibana Securities, said the Nikkei's gains were limited by caution ahead of Portugal's bond auction later in the global trading day. "Tensions concerning European conditions will continue through the week," he said.
Coal miners led shares higher in China due to rising overseas oil prices on supply concerns and a weakened US dollar.
Shares in Hong Kong were higher, supported by gains in some laggards, as well as gains in telecom and property stocks.
By 09:14 local time, the JSE all share index was 0.42% higher, with resources adding 0.91%. Gold miners were up 0.66%, while industrials gained 0.27%.
Banks lost 0.35%, and financials were down 0.15%. Platinum miners gave up 0.15%.
The rand was trading at R6.83 to the dollar from R6.85 at the JSE's close on Tuesday. Gold was quoted at $1 385.12 a troy ounce from $1 375.36/oz at the JSE's previous close, while platinum was at $1 768/oz from $1 758/oz before.
"For markets today, it is more about Europe. The risk around Europe seems to have dissipated a bit overnight, leading to dollar weakness and stronger commodities," said Reid Warren Saevitzon, a local trader at Imara SP.
Dow Jones Newswires reports that Asian stock markets were higher on Wednesday, after Wall Street's rise on Tuesday, but investors remained cautious ahead of European bond auctions this week.
Japan's Nikkei Stock Average was up 0.5%, Australia's S&P/ASX 200 was 0.2% higher, and South Korea's Kospi Composite rose 0.2%. Hong Kong's Hang Seng Index was up 0.9%, Taiwan's main index rose 0.6%, and the Shanghai Composite index was 0.1% higher.
Dow Jones Industrial Average futures were up 10 points in screen trade.
The index ended Tuesday 0.3% higher, for its first gain in four sessions. It would probably have risen more if not for caution ahead of an expected snowstorm in New York.
While the rise in New York stocks was helping Tokyo shares higher, Kenichi Hirano, operating officer at Tachibana Securities, said the Nikkei's gains were limited by caution ahead of Portugal's bond auction later in the global trading day. "Tensions concerning European conditions will continue through the week," he said.
Coal miners led shares higher in China due to rising overseas oil prices on supply concerns and a weakened US dollar.
Shares in Hong Kong were higher, supported by gains in some laggards, as well as gains in telecom and property stocks.
