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Johannesburg -The JSE stayed in positive territory at noon on
Wednesday, with local technology stocks shining on the back of strong
earnings from the US technology giant Intel.
By noon local time the JSE all share index had gained 0.14%. Resources picked up 0.17%, and gold producers were 0.13% stronger. Platinum miners firmed 0.28%. Banks were up 0.38, financials also gained 0.28%, and industrials were flat at 0.06%.
The rand was bid at R7.53 to the dollar, from R7.54 at the JSE's last close. Gold was quoted at $1 213.51 a troy ounce from $1 214.49/oz at the JSE's previous close, while platinum was at $1 525.50/oz from $1 524.00/oz before.
A trader said the local market was firmer on positive US earnings reports, especially from Intel, which posted earnings that beat analysts' expectations.
"Local technology stocks are the best performing sector thus far," the trader said.
Dow Jones Newswires reported that Asian markets climbed on Wednesday as Intel's strongest-ever quarterly results buoyed technology sector shares, while a robust economic picture in Singapore also aided sentiment.
Japan's Nikkei Stock Average added 2.7%, while Australia's S&P/ASX 200 gained 1.9% and South Korea's Kospi rose 1.3%. Hong Kong's Hang Seng Index rose 0.6% and China's Shanghai Composite gained 0.8%.
In afternoon trading, India's Sensex was down 0.2%, Indonesian shares advanced 0.7% and Thailand's SET Index rose 0.3%. Dow Jones Industrial Average futures were up 39 points in screen trade.
"We've seen some good reports from Alcoa, CSX and Intel," said Macquarie Private Wealth Private Client Adviser Marcus Droga in Australia. Upgrades on US technology stocks following Intel's results "helped broader market sentiment today," he added.
- I-Net Bridge
By noon local time the JSE all share index had gained 0.14%. Resources picked up 0.17%, and gold producers were 0.13% stronger. Platinum miners firmed 0.28%. Banks were up 0.38, financials also gained 0.28%, and industrials were flat at 0.06%.
The rand was bid at R7.53 to the dollar, from R7.54 at the JSE's last close. Gold was quoted at $1 213.51 a troy ounce from $1 214.49/oz at the JSE's previous close, while platinum was at $1 525.50/oz from $1 524.00/oz before.
A trader said the local market was firmer on positive US earnings reports, especially from Intel, which posted earnings that beat analysts' expectations.
"Local technology stocks are the best performing sector thus far," the trader said.
Dow Jones Newswires reported that Asian markets climbed on Wednesday as Intel's strongest-ever quarterly results buoyed technology sector shares, while a robust economic picture in Singapore also aided sentiment.
Japan's Nikkei Stock Average added 2.7%, while Australia's S&P/ASX 200 gained 1.9% and South Korea's Kospi rose 1.3%. Hong Kong's Hang Seng Index rose 0.6% and China's Shanghai Composite gained 0.8%.
In afternoon trading, India's Sensex was down 0.2%, Indonesian shares advanced 0.7% and Thailand's SET Index rose 0.3%. Dow Jones Industrial Average futures were up 39 points in screen trade.
"We've seen some good reports from Alcoa, CSX and Intel," said Macquarie Private Wealth Private Client Adviser Marcus Droga in Australia. Upgrades on US technology stocks following Intel's results "helped broader market sentiment today," he added.
- I-Net Bridge
