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Johannesburg, Feb 1 (I-Net Bridge) - The JSE was up at noon on Wednesday
as international sentiment once again improved, pushing markets higher.
An Afrifocus trader said that slightly weaker eastern markets were weighing on the market earlier on, but investors had turned their focus to positive earnings data from the US which had mostly exceeded expectations. Coupled with a low interest rate environment, which the Fed had committed to maintaining, investors were beginning to gain confidence.
Chinese manufacturing data had also added to positive sentiment in early trade.
At noon, the JSE All Share [JSE:J203] index was 0.48% firmer, with platinum shares leading the way up 1.15%. Resources generated 0.23%, however gold stocks declined 0.77%.
Industrials added 0.65%, financials lifted 0.53% and banking stocks gathered 0.45%.
The rand was bid at 7.77 to the dollar from 7.79 at the JSE's close on Tuesday. Gold was quoted at $1 747.30 a troy ounce from $1 742.21/oz at the JSE's previous close, while platinum was at $1 609.50/oz, from $1 616/oz before.
The trader said that the start to the year had been especially good. Past January months had experienced some good runs before, but often fell to consolidation soon after. At the moment it seemed as though the strong undercurrent would continue.
Dow Jones Newswires reported that European stocks were up after data showed the contraction in eurozone factory activity in January slowed.
Confidence was high overall after stock markets recorded solid gains in January. European equities had their best start to the year since 1998 and US stocks managed to record their largest January gains in 15 years.
At noon local time, London's FTSE 100 Index had gained 1.49%, and Paris's CAC 40 Index had gained 1.77%.
The eurozone purchasing managers index rose to 48.8 from 46.9 in December, although of all the euro-area countries, only Germany registered a reading above 50, indicating expansion.
Meanwhile, Asian stock markets finished mixed on Wednesday as encouraging manufacturing data from China only partially offset concerns over downbeat US economic reports.
Investors were wary as they digested several pieces of competing global data and remained uneasy about Greece's protracted debt-restructuring talks.
China's official manufacturing PMI for January rose to 50.5 from 50.3 in December, above the 49.5 forecast by economists. The unexpected rise in the index is likely to assuage market concerns about a slowdown in Asia's largest economy, although the result also meant that any near-term policy-easing steps from Beijing may be delayed.
Hong Kong's Hang Seng Index finished down 0.3% and Japan's Nikkei 225 ended up 0.1%.
An Afrifocus trader said that slightly weaker eastern markets were weighing on the market earlier on, but investors had turned their focus to positive earnings data from the US which had mostly exceeded expectations. Coupled with a low interest rate environment, which the Fed had committed to maintaining, investors were beginning to gain confidence.
Chinese manufacturing data had also added to positive sentiment in early trade.
At noon, the JSE All Share [JSE:J203] index was 0.48% firmer, with platinum shares leading the way up 1.15%. Resources generated 0.23%, however gold stocks declined 0.77%.
Industrials added 0.65%, financials lifted 0.53% and banking stocks gathered 0.45%.
The rand was bid at 7.77 to the dollar from 7.79 at the JSE's close on Tuesday. Gold was quoted at $1 747.30 a troy ounce from $1 742.21/oz at the JSE's previous close, while platinum was at $1 609.50/oz, from $1 616/oz before.
The trader said that the start to the year had been especially good. Past January months had experienced some good runs before, but often fell to consolidation soon after. At the moment it seemed as though the strong undercurrent would continue.
Dow Jones Newswires reported that European stocks were up after data showed the contraction in eurozone factory activity in January slowed.
Confidence was high overall after stock markets recorded solid gains in January. European equities had their best start to the year since 1998 and US stocks managed to record their largest January gains in 15 years.
At noon local time, London's FTSE 100 Index had gained 1.49%, and Paris's CAC 40 Index had gained 1.77%.
The eurozone purchasing managers index rose to 48.8 from 46.9 in December, although of all the euro-area countries, only Germany registered a reading above 50, indicating expansion.
Meanwhile, Asian stock markets finished mixed on Wednesday as encouraging manufacturing data from China only partially offset concerns over downbeat US economic reports.
Investors were wary as they digested several pieces of competing global data and remained uneasy about Greece's protracted debt-restructuring talks.
China's official manufacturing PMI for January rose to 50.5 from 50.3 in December, above the 49.5 forecast by economists. The unexpected rise in the index is likely to assuage market concerns about a slowdown in Asia's largest economy, although the result also meant that any near-term policy-easing steps from Beijing may be delayed.
Hong Kong's Hang Seng Index finished down 0.3% and Japan's Nikkei 225 ended up 0.1%.
