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Johannesburg - The JSE edged higher on Friday‚ with upside in platinum and resources stocks countering softness in the banking and general retail sectors.
At 09:24‚ the JSE All Share [JSE:J203] index was up 0.1% at 40 950.65 points‚ with the platinum and resources indices adding 0.24% and 0.2% respectively.
Banks lost 0.34% and general retailers fell 0.23%.
Global events that markets will be watching on Friday include US consumer inflation numbers‚ industrial production and consumer confidence.
Recent data have showed the US economic recovery is gaining momentum.
Rand Merchant Bank (RMB) said Italy was also back in focus as the parliament reconvened.
On the local front‚ RMB said: “Based on Thursday’s production-side data the economy is starting the year on a more positive note. Mining production positively surprised‚ rising 7.3% year on year in January from a downwardly revised 8.9% contraction.
"The better than expected print should ease foreign investor fears‚ at least in the short term‚ but labour issues continue to brew‚” RMB said.
On the JSE‚ Anglo American slipped 0.97% to R255‚ while rival BHP Billiton lifted 0.8% to R290.86.
Anglo American Platinum added 0.49% to R412.01‚ while Aquarius lost 4.56% to R7.11.
Coal of Africa shed 15.96% to R1.79. The coal miner reported a loss for the six months to December of $111.7m‚ or 14.39 cents per share‚ compared with a loss of $74.7m‚ or 13.36c/share‚ for the year-earlier period.
Standard Bank declined 0.73% to R115.40, and insurer Santam retreated 2.09% to R206.20.
Building counter Basil Read surged 6.33% to R11.10, after it said in a trading update it expected its earnings for the year to end-December to be between 215% and 225% lower than a year earlier.
At 09:24‚ the JSE All Share [JSE:J203] index was up 0.1% at 40 950.65 points‚ with the platinum and resources indices adding 0.24% and 0.2% respectively.
Banks lost 0.34% and general retailers fell 0.23%.
Global events that markets will be watching on Friday include US consumer inflation numbers‚ industrial production and consumer confidence.
Recent data have showed the US economic recovery is gaining momentum.
Rand Merchant Bank (RMB) said Italy was also back in focus as the parliament reconvened.
On the local front‚ RMB said: “Based on Thursday’s production-side data the economy is starting the year on a more positive note. Mining production positively surprised‚ rising 7.3% year on year in January from a downwardly revised 8.9% contraction.
"The better than expected print should ease foreign investor fears‚ at least in the short term‚ but labour issues continue to brew‚” RMB said.
On the JSE‚ Anglo American slipped 0.97% to R255‚ while rival BHP Billiton lifted 0.8% to R290.86.
Anglo American Platinum added 0.49% to R412.01‚ while Aquarius lost 4.56% to R7.11.
Coal of Africa shed 15.96% to R1.79. The coal miner reported a loss for the six months to December of $111.7m‚ or 14.39 cents per share‚ compared with a loss of $74.7m‚ or 13.36c/share‚ for the year-earlier period.
Standard Bank declined 0.73% to R115.40, and insurer Santam retreated 2.09% to R206.20.
Building counter Basil Read surged 6.33% to R11.10, after it said in a trading update it expected its earnings for the year to end-December to be between 215% and 225% lower than a year earlier.
