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Johannesburg - The JSE opened relatively flat on Wednesday, but showing a positive bias in line with international markets, after strong earnings in the US sent Wall Street higher.
By 09:20 local time the JSE all share index had added 0.24% as resources gained 0.19%, platinum miners found 0.34% but, gold miners declined 0.44%.
Banks grew 0.57%, while financials
picked up 0.41% and industrials rose 0.26%.
The rand was bid at R7.51 to the dollar, from R7.54 at the JSE's last close. Gold was quoted at $1 213 a troy ounce from $1 214.49/oz at the JSE's previous close, while platinum was at $1 529.50/oz from $1 524.00/oz before.
A local
trader noted a "good start" on the local bourse, driven by global
markets.
"We aren't running away just yet though as investors aren't entirely convinced. The US was boosted by strong earnings largely from Intel, but there are a few underlying economic pressures in Europe," she said.
European stocks opened higher Wednesday, taking their cue from a triple-digit gain for the Dow Jones Industrial Average and very strong results from Intel, which confirmed its best quarter in its 42-year history, according to Dow Jones Newswires.
"This has fuelled investor confidence through the Asian session too, so we're now eyeing another strong open in Europe, with London looking for its seventh successive day of gains as a result," said Ben Potter, research analyst at IG Markets.
The Dow
Jones Industrial Average climbed 1.4% to 10 363.02.
Asian shares climbed Wednesday as broad-based gains were led by the technology sector following the well-received Intel results.
Japan's Nikkei Stock
Average added 2.7%, and South Korea's Kospi Composite gained 1.5%. Hong Kong's
Hang Seng Index rose 1.0% and the Shanghai Composite tacked on 0.6%, paring earlier gains.
- I-Net Bridge
