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Johannesburg - The JSE ended on a higher note on Thursday, shored up
by positive US job data and the weakening dollar, which
boosted resources shares.
The JSE all share index gained 0.64%, as platinum miners added 0.26%, gold miners rose 0.17%, and resources climbed 0.73%. Banks picked up 0.56%, financials firmed 0.61% and industrials edged up 0.57%.
The rand was bid at R7.32 to the dollar from R7.33 at the JSE's close on Wednesday. Gold was quoted at $1 162.70 a troy ounce from $1 161.05/oz at the JSE's previous close, while platinum was at $1 558.00/oz from $1 536.50/oz before.
A trader said the local market maintained upward momentum due to improved economic data in the US.
"Investors were closely monitoring US jobs data," the trader said.
The trader said the weak dollar bolstered commodity prices, which in turn benefited resources equities like BHP Billiton [JSE:BIL] and Sasol [JSE:SOL].
Dow Jones newswires reports that US stocks advanced tentatively on Thursday as a mixed round of second-quarter earnings boosted energy and financial companies, but signs of weakness in consumer spending kept the gains in check.
Investors have largely embraced second-quarter earnings and revenues as a sign of business strength, but the latest string of corporate reports on Thursday hinted that consumers may still be closely watching their wallets.
Paring an early morning rally, the Dow Jones Industrial Average was recently up 24 points, or 0.2% to 10524.
Market watchers largely shrugged off a slight decline in weekly jobless claims.
- I-Net Bridge
boosted resources shares.
The JSE all share index gained 0.64%, as platinum miners added 0.26%, gold miners rose 0.17%, and resources climbed 0.73%. Banks picked up 0.56%, financials firmed 0.61% and industrials edged up 0.57%.
The rand was bid at R7.32 to the dollar from R7.33 at the JSE's close on Wednesday. Gold was quoted at $1 162.70 a troy ounce from $1 161.05/oz at the JSE's previous close, while platinum was at $1 558.00/oz from $1 536.50/oz before.
A trader said the local market maintained upward momentum due to improved economic data in the US.
"Investors were closely monitoring US jobs data," the trader said.
The trader said the weak dollar bolstered commodity prices, which in turn benefited resources equities like BHP Billiton [JSE:BIL] and Sasol [JSE:SOL].
Dow Jones newswires reports that US stocks advanced tentatively on Thursday as a mixed round of second-quarter earnings boosted energy and financial companies, but signs of weakness in consumer spending kept the gains in check.
Investors have largely embraced second-quarter earnings and revenues as a sign of business strength, but the latest string of corporate reports on Thursday hinted that consumers may still be closely watching their wallets.
Paring an early morning rally, the Dow Jones Industrial Average was recently up 24 points, or 0.2% to 10524.
Market watchers largely shrugged off a slight decline in weekly jobless claims.
- I-Net Bridge
