JSE on the up
Article By: Palesa Motloung
Thu, 26 Mar 2009 12:00
The JSE edged into the black in early trade on Thursday, supported by steady key Asian markets and resource counters on the back a firm overnight close on Wall Street.
By 9.10am, the JSE all share index had edged up 0.99 percent, with resources adding 1.58 percent and platinum miners collecting 2.09 percent. However, gold counters were flat, down 0.08 percent.
Banks eased 0.14 percent, financials were flat, up 0.07 percent and industrials edged up 0.88 percent.
The rand was last bid at 9.43 to the dollar from 9.40 when the JSE closed
on Wednesday. Gold was quoted at $933.50/oz a troy ounce from $929.47/oz at the JSE's last close, and platinum was at $1142/oz from its previous close
of $1120.50/oz.
"We have edged up this morning. The US had a very volatile session but
managed to end up, and we are taking direction from there. Markets in the East
were also firmer," a local trader said.
"Metal prices have ticked up and resources are strong, and that is also
supporting the market," he said.