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Johannesburg - The JSE opened stronger in morning trade on Friday, spurred by a softer rand that bolstered mining stocks ahead of crucial nonfarm payrolls data out later in the US.
By 09:15 local time, the JSE all share index was up 0.34%, buoyed by a climb in gold counters by 2%. Resources gained 0.49% while platinum mining indexes were flat.
Industrials advanced 0.31%, banks eked out a gain of 0.04% and financials firmed 0.06%.
The rand was trading at R7.28 to the dollar from R7.25 at the JSE's close on Thursday. Gold was quoted at $1 350.80 a troy ounce from $1 329.85/oz at the JSE's previous close, while platinum was at $1 842/oz from $1 822.50/oz before.
A local trader said: "Resources are stronger amid a softer rand, with a spike in gold stocks leading the pack."
The trader alluded to key nonfarm payrolls data as a potential market driver ahead of the weekend.
Dow Jones Newswires reported that Asian markets traded mixed on Friday, with steel sector merger talks buoying Tokyo shares, while a bullish statement from Australia's central bank boosted stocks in Sydney.
Japan's Nikkei Stock Average added 1.1%, Australia's S&P/ASX 200 tacked on 0.9%,
Markets in China, Hong Kong, Singapore, Malaysia, South Korea, Taiwan and Vietnam were closed for the lunar new-year holiday.
Trading was thinned by the regional market closures and as participants awaited US nonfarm payroll data for January due later in the global day.
"The US jobs data often serve as a turning point for markets so there is a risk that US shares may face a correction after the (data) release," said Yutaka Miura, senior technical analyst at Mizuho Securities.
Dow Jones pointed to Friday's key US nonfarm payrolls report; economists in a Dow Jones Newswires survey expected 136 000 jobs were added to the US economy last month, up from a gain of 103 000 in December.
"Economic fundamentals are in the driver's seat with an eye toward the global manufacturing rebound plus the stabilising outlook in the US," said Christian Cooper, head of US dollar derivatives trading at Jefferies & Co in New York. "It feels like the market is piling into the short trade."
By 09:15 local time, the JSE all share index was up 0.34%, buoyed by a climb in gold counters by 2%. Resources gained 0.49% while platinum mining indexes were flat.
Industrials advanced 0.31%, banks eked out a gain of 0.04% and financials firmed 0.06%.
The rand was trading at R7.28 to the dollar from R7.25 at the JSE's close on Thursday. Gold was quoted at $1 350.80 a troy ounce from $1 329.85/oz at the JSE's previous close, while platinum was at $1 842/oz from $1 822.50/oz before.
A local trader said: "Resources are stronger amid a softer rand, with a spike in gold stocks leading the pack."
The trader alluded to key nonfarm payrolls data as a potential market driver ahead of the weekend.
Dow Jones Newswires reported that Asian markets traded mixed on Friday, with steel sector merger talks buoying Tokyo shares, while a bullish statement from Australia's central bank boosted stocks in Sydney.
Japan's Nikkei Stock Average added 1.1%, Australia's S&P/ASX 200 tacked on 0.9%,
Markets in China, Hong Kong, Singapore, Malaysia, South Korea, Taiwan and Vietnam were closed for the lunar new-year holiday.
Trading was thinned by the regional market closures and as participants awaited US nonfarm payroll data for January due later in the global day.
"The US jobs data often serve as a turning point for markets so there is a risk that US shares may face a correction after the (data) release," said Yutaka Miura, senior technical analyst at Mizuho Securities.
Dow Jones pointed to Friday's key US nonfarm payrolls report; economists in a Dow Jones Newswires survey expected 136 000 jobs were added to the US economy last month, up from a gain of 103 000 in December.
"Economic fundamentals are in the driver's seat with an eye toward the global manufacturing rebound plus the stabilising outlook in the US," said Christian Cooper, head of US dollar derivatives trading at Jefferies & Co in New York. "It feels like the market is piling into the short trade."
