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Johannesburg - The JSE opened at another record high on
Thursday morning as commodities drove world markets up.
A local trader remarked about another good start for the
market. "The rand remains remarkably strong, commodity prices are moving
up, which is unusual with a strong rand."
She said that Asian markets had also been performing. The
positive manufacturing data from the UK, Germany and China had added momentum
to the market on Wednesday.
At 09:16 local time, the JSE All Share [JSE:J203] index had
strengthened 0.29%. Resources were up 0.63%, platinums lifted 0.20% while gold
shares dipped 0.15%.
Industrials secured 0.15%, however financials and banks were
flat (0.04% and 0.06% respectively).
The rand was unchanged at R7.68 from the JSE's close on
Wednesday. Gold was quoted at $1 748.37 a troy ounce from $1 745.03/oz at the
JSE's previous close, while platinum was at $1 623.50/oz, from $1 611/oz
before.
Dow Jones Newswires reported that Asian stock markets were
higher on Thursday as improved global economic data buoyed sentiment; resources
plays advanced in Sydney following a rise in copper prices; and the Australian
dollar jumped sharply after the nation posted a bigger-than-expected trade
surplus.
Investors were encouraged by improved manufacturing data
from the likes of the US, EU and China, suggesting resilience in the global
factory sector that helped paint a brighter economic outlook.
Germany's Chancellor Angela Merkel arrived in China on
Thursday for a three-day visit that would focus on the eurozone sovereign debt
crisis, Iran, and Syria.
She would also discuss a possible increase in Chinese
involvement in the International Monetary Fund, access to Chinese markets, and
intellectual property rights, people familiar with the matter said.
Merkel would also urge China not to take advantage of the
EU's ban on Iranian oil - imposed because of Iran's nuclear programme - to boost
its own oil imports.
European stock markets were likely to start mixed on Thursday, pending more developments on Greece's sovereign debt talks, while bunds and gilts might open little changed. The euro and spot gold were higher, while oil futures were mixed.
