Publications
Partners
Johannesburg - The JSE opened virtually flat on Thursday following Wednesday's rally that was fuelled by upbeat global economic data.
There is some consolidation in the local market as attention turns to more upcoming economic data, in particular Friday's US nonfarm payrolls, Kevin Algeo, portfolio manager at Imara SP Reid, said.
By 09:24 local time the JSE all share index had gained 0.13%, with platinum miners rising 0.69% and gold miners dropping 0.50%.
But resources fell 0.13% higher. Banks rose 0.13%, financials added 0.12%, and industrials edged up 0.23%.
The rand was bid at R7.28 to the dollar, unchanged from the JSE's close on Wednesdayy. Gold was quoted at $1 247.88 a troy ounce from $1 245.54/oz at the JSE's previous close, while platinum was at $1 538.00/oz from $1 533.50/oz before.
Algeo said the market opened fairly flat this morning after steep gains yesterday. On Wednesday, the JSE all share index surged 725 points or 2.66%.
Good economic data boosted sentiment, Algeo said.
Dow Jones Newswires reports that Asian markets were higher on Thursday on the back of the stronger-than-expected US manufacturing data.
Japan's Nikkei Stock Average closed 1.52% firmer on Thursday, and Hong Kong's Hang Seng Index was last 1.30% higher.
Still, reflecting the still-cautious tone, markets failed to match Wall Street's gains as investors waited for Friday's key US jobs report.
On Wednesday, the Dow Jones Industrial Average advanced 2.5% to 10 269.47, marking its biggest one-day gain since July 7.
European stocks opened lower on Thursday, as investors look to take profits after the sharp gains of the previous session, amid caution ahead of Friday's US nonfarm payrolls release.
In London, the FTSE 100 index was 0.15% down.
There is some consolidation in the local market as attention turns to more upcoming economic data, in particular Friday's US nonfarm payrolls, Kevin Algeo, portfolio manager at Imara SP Reid, said.
By 09:24 local time the JSE all share index had gained 0.13%, with platinum miners rising 0.69% and gold miners dropping 0.50%.
But resources fell 0.13% higher. Banks rose 0.13%, financials added 0.12%, and industrials edged up 0.23%.
The rand was bid at R7.28 to the dollar, unchanged from the JSE's close on Wednesdayy. Gold was quoted at $1 247.88 a troy ounce from $1 245.54/oz at the JSE's previous close, while platinum was at $1 538.00/oz from $1 533.50/oz before.
Algeo said the market opened fairly flat this morning after steep gains yesterday. On Wednesday, the JSE all share index surged 725 points or 2.66%.
Good economic data boosted sentiment, Algeo said.
Dow Jones Newswires reports that Asian markets were higher on Thursday on the back of the stronger-than-expected US manufacturing data.
Japan's Nikkei Stock Average closed 1.52% firmer on Thursday, and Hong Kong's Hang Seng Index was last 1.30% higher.
Still, reflecting the still-cautious tone, markets failed to match Wall Street's gains as investors waited for Friday's key US jobs report.
On Wednesday, the Dow Jones Industrial Average advanced 2.5% to 10 269.47, marking its biggest one-day gain since July 7.
European stocks opened lower on Thursday, as investors look to take profits after the sharp gains of the previous session, amid caution ahead of Friday's US nonfarm payrolls release.
In London, the FTSE 100 index was 0.15% down.
