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Johannesburg - The JSE opened stronger on Tuesday following positive
global sentiment fuelled by modest gains on Wall Street
overnight.
By 09:23 local time the JSE all share index had gained 0.61% as resources rose 1.12%, and platinum miners firmed 0.76%, but gold miners were 0.60% weaker. Banks added 0.37%, financials climbed 0.33% and industrials increased 0.31%.
The rand was bid at R7.58 to the dollar, from R7.64 at the JSE's last close. Gold was quoted at $1 183.51 a troy ounce from $1 179.78/oz at the JSE's previous close, while platinum was at $1 512.50/oz from $1 503.50/oz/oz before.
A trader said the local market was tracking international equity markets at the moment.
"US markets closed firmer overnight, and European markets have shown some strength," the trader said, warning that investors were cautious amid the earnings reports in the US.
She said the market welcomed news that China will keep policies aimed at stabilising external demand targeted, flexible and sustainable.
Dow Jones Newswires reported that Asian stock markets were mixed on Tuesday despite a modest rise on Wall Street on Monday, as disappointing US earnings restrained buyers, with tech plays falling sharply in Tokyo.
Sentiment in Asia was weighed by second-quarter earnings from International Business Machines and Texas Instruments, reported after the US market shut on Monday.
European stocks opened higher on Tuesday, taking their lead from a positive finish in the US overnight, and overall a positive start to the week in terms of corporate earnings news.
"With positive sentiment once again ebbing back into the market,Tuesday's session looks set to start on a suitably upbeat note," said Ben Potter, research analyst at IG Markets.
"Renewed enthusiasm over the quarterly earnings that are pouring out of the US is certainly helping and really the only detractor at the moment seems to be Japan where yen strength is clearly causing concern for exporters," he said.
- I-Net Bridge
overnight.
By 09:23 local time the JSE all share index had gained 0.61% as resources rose 1.12%, and platinum miners firmed 0.76%, but gold miners were 0.60% weaker. Banks added 0.37%, financials climbed 0.33% and industrials increased 0.31%.
The rand was bid at R7.58 to the dollar, from R7.64 at the JSE's last close. Gold was quoted at $1 183.51 a troy ounce from $1 179.78/oz at the JSE's previous close, while platinum was at $1 512.50/oz from $1 503.50/oz/oz before.
A trader said the local market was tracking international equity markets at the moment.
"US markets closed firmer overnight, and European markets have shown some strength," the trader said, warning that investors were cautious amid the earnings reports in the US.
She said the market welcomed news that China will keep policies aimed at stabilising external demand targeted, flexible and sustainable.
Dow Jones Newswires reported that Asian stock markets were mixed on Tuesday despite a modest rise on Wall Street on Monday, as disappointing US earnings restrained buyers, with tech plays falling sharply in Tokyo.
Sentiment in Asia was weighed by second-quarter earnings from International Business Machines and Texas Instruments, reported after the US market shut on Monday.
European stocks opened higher on Tuesday, taking their lead from a positive finish in the US overnight, and overall a positive start to the week in terms of corporate earnings news.
"With positive sentiment once again ebbing back into the market,Tuesday's session looks set to start on a suitably upbeat note," said Ben Potter, research analyst at IG Markets.
"Renewed enthusiasm over the quarterly earnings that are pouring out of the US is certainly helping and really the only detractor at the moment seems to be Japan where yen strength is clearly causing concern for exporters," he said.
- I-Net Bridge
